Japan's core machinery orders, excluding those for ships and electric power companies, rose by 3.4% month-on-month to reach 899.6 billion yen in November 2024, marking the most substantial growth in nine months.
Japan's machinery orders rise 3.4% in November
This uptick accelerated from a 2.1% gain in October and exceeded market expectations, which had forecast a 0.4% decline. Notably, orders from the manufacturing sector surged by 6% to 462.9 billion yen, while non-manufacturing orders rose by 1.1% to 453.7 billion yen.
The most significant gains were observed in sectors such as chemicals and chemical products (up 71.4%), information and communication electronics (up 47.4%), mining and quarrying of stone and gravel (up 42.6%), information services (up 34.8%), and finance and insurance (up 21.7%).
Japan's machinery orders jump 10.3% in November
On an annual basis, private-sector machinery orders jumped by 10.3% in November, marking an acceleration from the 5.6% gain in October, which had also aligned with market forecasts. This robust performance highlights growing confidence in Japan’s industrial sector, underpinned by demand across diverse industries, and suggests positive momentum for the economy heading into 2025.
