Japan’s Core Machine Orders Gain 0.6% In April

The overall value of core machine orders in Japan advanced a seasonally adjusted 0.6 percent on month in April, the Cabinet Office said on Wednesday – standing at 802.9 billion yen.

That missed expectations for an increase of 2.7 percent and was down from 3.7 percent in March.

On a yearly basis, core machine orders gained 6.5 percent – again missing expectations for 8.0 percent following the 0.2 percent contraction in the previous month.

The total value of machinery orders received by 280 manufacturers operating in Japan (including volatile ones from ships and electric power companies) jumped 18.2 percent on month and 19.5 percent on year in April.

Government orders were down 2.7 percent on month and 4.2 percent on year at 257.1 billion yen, while orders from overseas skyrocketed 46.2 percent on month and 67.8 percent on year to 1,217.5 billion yen. Orders through agencies gained 8.4 percent on month and 13.3 percent on year at 117.2 billion yen.

For the second quarter of 2021, core machine orders are forecast to rise 2.5 percent on quarter and 10.5 percent on year to 2,470.3 billion yen.

Also on Wednesday, the Ministry of Finance said that Japan posted a merchandise trade deficit of 187.1 billion yen in May. That missed expectations for a shortfall of 91.2 billion following the downwardly revised 253.1 billion yen surplus in April (originally 255.3 billion yen).

Exports skyrocketed 49.6 percent on year, missing forecasts for a jump of 51.3 percent following the 38.0 percent spike in the previous month. Imports climbed an annual 27.9 percent versus expectations for 26.6 percent and up from 12.8 percent a month earlier.

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