High demand for basic machinery in Japan during last September

Data from the Japanese government office released on Thursday showed that the value of demand for basic machinery in Japan increased last September by 1.4% on a monthly basis after putting seasonal variables into account to 9.852 billion yen.

Analysts had expected demand to rise by 0.9% after falling by 5.0% month-on-month last August.

On an annual basis, the demand for machines decreased by .22% during last August, while analysts expected a decline of 3.6% year-on-year, after a decline of 7.7% year-on-year during the previous month.

The demand for machinery during the third quarter of this year decreased by 1.8% compared to the second quarter and by 7.2% year-on-year to 5.2538 billion yen.

At the same time, analysts expect demand for machinery to rise during the last quarter of this year by 5.0% on a quarterly basis and decline by 6.1% on an annual basis.

The total value of orders received by 280 machine manufacturers in Japan increased by 1.15% per month and by 4.6% per year to 9.2872 billion yen