Investing.com – Japanese core machinery orders plunged in July, dropping by the most in ten months, official data showed on Thursday.
In a report, Japan’s Cabinet Office said core machinery orders fell by a seasonally adjusted 8.2% in July, after jumping by 7.7% in June.
Economists had expected core machinery orders to drop by 4.2% in July.
The data showed that year-on-year, core machinery orders increased at an annualized rate of 4.0%, falling short of expectations for a 8.3% increase, after rising at a rate of 17.9% in June.
Following the release of the data, the yen was down against the U.S. dollar, with USD/JPY climbing 0.16% to hit 77.34.
In a report, Japan’s Cabinet Office said core machinery orders fell by a seasonally adjusted 8.2% in July, after jumping by 7.7% in June.
Economists had expected core machinery orders to drop by 4.2% in July.
The data showed that year-on-year, core machinery orders increased at an annualized rate of 4.0%, falling short of expectations for a 8.3% increase, after rising at a rate of 17.9% in June.
Following the release of the data, the yen was down against the U.S. dollar, with USD/JPY climbing 0.16% to hit 77.34.