Core machine orders in Japan surged a seasonally adjusted 11.0 percent on month in July, the Cabinet Office said on Thursday – coming in at 918.6 billion yen.
That beat expectations for a gain of 5.5 percent following the 8.8 percent slide in June.
On a yearly basis, core machine orders jumped 13.9 percent – also exceeding forecasts for 4.3 percent after adding 0.3 percent in the previous month.
Manufacturing orders climbed 11.8 percent on month and 21.2 percent on year to 426.8 billion yen, while non-manufacturing orders advanced 10.9 percent on month and 7.7 percent on year to 494.1 billion yen.
Orders from government agencies skyrocketed 57.0 percent on month and 34.1 percent on year to 358.7 billion yen. Orders from overseas gained 6.0 percent on month and 1.2 percent on year to 980.1 billion yen. Orders through agencies picked up 11.0 percent on month and 4.5 percent on year to 128.5 billion yen.
The overall value of machine orders in Japan spiked 18.8 percent on month and 11.5 percent on year, standing at 2,630.4 billion yen.
Also on Thursday, the Bank of Japan said that producer prices in Japan were flat on month in August.
That was beneath expectations for an increase of 0.1 percent following the downwardly revised 0.4 percent gain in July (originally 0.5 percent).
On a yearly basis, producer prices were up 3.0 percent – also shy of expectations for 3.1 percent but unchanged from the previous month following a downward revision from 3.1 percent.
Export prices were down 0.3 percent on month and up 2.9 percent on year in August, the bank said, while import prices fell 0.6 percent on month but surged 12.2 percent on year.