The value of core machine orders in Japan jumped a seasonally adjusted 8.2 percent on month in January, the Cabinet Office said on Thursday – coming in at 872.3 billion yen.
The headline figure topped expectations for an increase of 5.2 percent following the upwardly revised 9.3 percent contraction in December (originally -11.9 percent).
On a yearly basis, core machine orders gained 2.9 percent – again exceeding expectations for a fall of 0.7 percent following the 5.0 percent fall in the previous month.
The total value of machine orders, which includes volatile ones for ships and electric power companies, climbed a seasonally adjusted 4.5 percent on month and 10.7 percent on year in January.
Manufacturing orders gained 9.9 percent on month and 16.8 percent on year to 409.4 billion yen, while non-manufacturing orders added 4.4 percent on month and 7.0 percent on year to 465.4 billion yen.
Government orders plummeted 18.7 percent on month and 32.5 percent on year to 207.6 billion yen. Orders from overseas spiked 11.6 percent on month and 27.2 percent on year to 1,097.1 billion yen. Orders from agencies fell 3.1 percent on month but gained 7.8 percent on year to 115.6 billion yen.
For the first quarter of 2018, core machine orders are forecast to have fallen 1.5 percent on quarter and 0.3 percent on year.