Japan's February Core Machinery Orders Surpass Expectations, Easing Economic Concerns

Apr 15, 2024, 12:32 PM

Japan's core machinery orders for February showed a significant increase, surpassing expectations. The month-on-month (MoM) orders rose by 7.7%, greatly exceeding the forecast of 0.8% and reversing a previous decline of 1.7%. Year-on-year (YoY), orders decreased by 1.8%, but this was still better than the anticipated 6.0% drop and a marked improvement from the previous 10.9% decline. This positive data may help alleviate concerns about domestic demand within Japan.