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Market Update: Japan Machinery Orders Rise Less than Estimated
Core machinery orders in Japan, which exclude those for ships and from electric power companies, rose by 0.6 percent month-over-month in April of 2021, compared with market expectations of a 2.7 percent gain and after a 3.7 growth a month earlier. This was the second straight month of increase in machinery orders, mainly supported by a rise in manufacturing orders (10.9 percent vs -0.1 percent). Meantime, non-manufacturing orders fell 11 percent after expanding 9.5 percent in March. On a yearly basis, core machinery orders went up 6.5 percent in April, compared with forecasts of an 8 percent rise and after a 2 percent decline in March. source: Cabinet Office, Japan [/s2If]
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