The Cabinet Office announced on Monday that Japan's core machine orders experienced a seasonally adjusted increase of 2.1 percent in October, reaching 869.8 billion yen. This growth surpassed the anticipated rise of 1.2 percent, following a 0.7 percent decrease observed in September.
On an annual scale, core machine orders rose by 5.6 percent, again outperforming the forecasted increase of 0.7 percent. This follows a 4.8 percent decline witnessed in the previous month.
Looking ahead to the fourth quarter of 2024, core machine orders are projected to rise by 5.7 percent quarterly and 8.0 percent annually.
Government orders saw a significant monthly increase of 49.9 percent and a yearly surge of 188.0 percent, amounting to 812.4 billion yen. Orders from overseas increased by 7.9 percent on a monthly basis and by 8.9 percent annually, totaling 1,345.7 billion yen. In contrast, orders made through agencies decreased by 4.2 percent monthly but experienced a modest annual increase of 0.9 percent, reaching 120.3 billion yen.
Overall, the total value of machinery orders received by 280 manufacturing entities operating in Japan rose by a seasonally adjusted 21.1 percent on a monthly basis and by 30.5 percent annually.
