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Japan's Core Machinery Orders Rebound in June

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Japan's private-sector core machinery orders, which exclude volatile sectors such as ships and electric power, increased 9.7% month on month on a seasonally adjusted basis in June, according to data from the Cabinet Office released on Wednesday.

The reading beat the consensus forecast of a 7.2% rise tracked by Investing.com, and rebounded from the 12.4% contraction recorded in the previous month.

By sector, manufacturing orders grew 19.9% to 524.1 billion yen, driven primarily by demand in industries such as non-ferrous metals and shipbuilding. Meanwhile, non-manufacturing orders rose 4.5% to 540.2 billion yen.

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