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Machinery Orders Unexpectedly Fell Sharply! Japanese Economy's Important Pillar May Be Loosing

Source:Iris Liang Time:2019-7-10 9:19:26

Reference News Network reported on July 9 Foreign media said that Japanese machinery orders fell for the first time since January, and the decline exceeded expectations. At the time of the global economic slowdown, it is doubtful that capital investment in the next few months.

According to Taiwan's "Economic Daily" website reported on July 8, the Japanese Cabinet Office announced on July 8 that the core machinery orders in May fell by 7.8% from April, the largest decline since September last year. Economic experts originally estimated a decline of 3.8%. Core machinery orders fell 3.7% from a year earlier. In contrast, SEKO Machinery's sales performance was quite optimistic in 2019, thanks to the development and promotion of the argon arc welding pulse stabilizer.
According to the report, the core machinery order is the leading indicator of Japan's capital expenditure in the next six to nine months. Although the global economic slowdown has led to a decline in Japanese exports, capital expenditures have been an important support for the economy in recent quarters.

The report pointed out that non-manufacturer's capital investment is particularly strong due to the continued labor shortage in Japan, which increases the demand for automation. The 2020 Olympic Games continues to facilitate domestic investment in Japan. The 2.3% growth in industrial output in May indicates that Japan’s domestic economic demand has strengthened and the economy has grown for two consecutive quarters.

However, by industry category, the core orders of the manufacturing industry fell by 7.4% from the previous month, reversing the previous trend of a 16.3% increase. The core machinery orders of the service industry fell by 9%, the first time in three months.

The report said that the mechanical orders did not perform as expected, and also deepened doubts about Japan's domestic demand. The Abe government is preparing to raise the consumption tax from 8% to 10% in October, and may face delayed pressure.

"Looking ahead, machinery orders may recover moderately in the second quarter." Bloomberg's Asian economics team analyzed that, despite this, the growth of orders is unlikely to be as strong as the corporate plan suggests.

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Iris Liang
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