Japan Machinery Orders Drop More Than Expected in July, Highlighting Weak Business Investment Amid Global Uncertainty

Japan's core machinery orders fell more than expected in July, indicating sluggish business investment amid global uncertainty.
Orders from manufacturers dropped 5.3%, the biggest decline in 8 months, as export-reliant firms hesitate to ramp up investments.
The data adds to other weak indicators recently like falling exports and industrial output.
This poses a challenge for the Japanese economy and the Bank of Japan's ultra-easy monetary policy.
Analysts say manufacturers want to invest but are held back by overseas conditions like slowing growth in China.

reuters.com

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Posted 9/14/2023, 2:27:28 AM