December 2023 Machinery Order Statistics: Private Demand Increases by 2.7%, First Positive Increase in Two Months

According to the December machinery order statistics released by the Cabinet Office on the 19th, the order amount (seasonally adjusted) for private demand, excluding ships and electric power, which is a leading indicator of capital investment, increased by 2.7% from the previous month. . The photo was taken in September 2018 at the Keihin Industrial Zone in Kawasaki City (2024 Reuters/Kim Kyung-Hoon)

TOKYO (Reuters) – According to machinery order statistics for December 2023 released by the Cabinet Office on the 19th, the order amount (seasonally adjusted value) for private demand excluding ships and electricity, which is a leading indicator of capital investment, has changed from the previous month. This was an increase of 2.7%. This is the first month-on-month increase in two months. The basic assessment remained unchanged for 14 consecutive months at “there appears to be some slowdown.”

The median estimate compiled by Reuters in advance was for a 2.5% increase from the previous month, and the results were broadly in line. Compared to the same month last year, it was down 0.7%.

Of the machinery orders received, the manufacturing industry received 415.5 billion yen, an increase of 10.1% from the previous month. Orders increased in nine of the 17 industries, including the chemical industry and information and communication equipment. Orders were reduced in eight industries, including the textile industry and “other transportation machinery.”

On the other hand, the non-manufacturing industry (excluding ships and electric power) decreased by 2.2% from the previous month to 438.5 billion yen. External demand decreased by 0.3% to 1.2949 trillion yen.

According to statistics on machinery orders, orders are expected to increase by 4.6% from the previous quarter in the January-March period of 2024, which, if realized, would be the first positive increase in four quarters.

*Cabinet Office announcement materials can be viewed at the URL below. opens new tab [ opens new tab]

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2024-02-19 14:12:44
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