Japan's core machinery orders fall for 2nd consecutive quarter-Xinhua

Japan's core machinery orders fall for 2nd consecutive quarter

Source: Xinhua

Editor: huaxia

2024-11-18 10:37:16

TOKYO, Nov. 18 (Xinhua) -- Japan's core machinery orders fell a seasonally adjusted 1.3 percent during the July-September period compared to the previous quarter, government data showed on Monday.

Excluding volatile shipbuilding and power-related orders, total machinery orders from domestic firms amounted to 2.585 trillion yen (about 16.7 billion U.S. dollars) during the period, marking the second consecutive quarter of decline, according to the Cabinet Office.

By sector, manufacturing orders fell 7.2 percent, with a decline in electrical machinery contributing significantly, while non-manufacturing sector orders rose 1.4 percent, driven by increased demand for construction machinery.

Despite the decline, the Cabinet Office maintained its overall assessment, stating that while recovery trends continue, "momentum has stalled."