The value of core machine orders in Japan was up a seasonally adjusted 3.8 percent on month in October, the Cabinet Office said on Monday – coming in at 879.8 billion yen.
That beat expectations for an increase of 2.1 percent following the flat reading in September.
On a yearly basis, core machine orders rose 2.9 percent – shy of forecasts for a gain of 4.0 percent following the 12.5 percent jump in the previous month.
For the fourth quarter of 2021, core machine orders are predicted to rise 3.1 percent both on quarter and on year.
The total value of machinery orders received by 280 manufacturers operating in Japan increased 24.9 percent on month and 29.4 percent on year to 2,965.5 billion yen.