The value of core machine orders in Japan was up 7.6 percent on year in March, the Cabinet Office said on Thursday – coming in at 869.5 billion yen.
That beat forecasts for an increase of 3.7 percent and was up from 4.3 percent in February.
On a seasonally adjusted monthly basis, core machine orders climbed 7.1 percent – also exceeding expectations for 3.7 percent following the 9.8 percent contraction in the previous month.
For the first quarter of 2022, core machine orders fell 3.6 percent on quarter and gained 6.1 percent on year after advancing 5.1 percent on quarter and 6.4 percent on year in the three months prior.
For the second quarter of 2022, core machine orders are seen lower by 8.1 percent on quarter and 5.6 percent on year.