اليابان Machinery Orders

Japan’s core machinery orders—which exclude volatile sectors such as ships and electric power—fell 0.9% month-over-month to ¥8890 billion in August 2025, improving from a sharp 4.6% drop in July but missing market expectations for a 0.4% gain. The decline was led by the non-manufacturing sector, which tumbled 6.4% to ¥469 billion, while manufacturing orders lost 2.4% to ¥418 billion. By industry, the steepest contractions were recorded in goods leasing (-55.2%), chemical & chemical products (-48.9%), pulp, paper & paper products (-45.2%), other transport equipment (-38.2%) and other non-manufacturing (-21.1%). On an annual basis, private-sector orders rose 1.6% in August, easing from a 4.9% gain in July and coming in way below forecasts of 4.8%. Core machinery orders are seen as a key yet volatile leading indicator of capital expenditure over the coming six to nine months.