(RTTNews) – The total value of orders for basic machinery in Japan decreased by 0.7% seasonally compared to September, the Cabinet Office announced on Monday – standing at 852.0 billion yen.

That missed forecasts for a 1.4 percent increase after August’s 1.9 percent contraction.

On an annual basis, core machinery orders fell 4.8 percent after falling 3.4 percent the previous month.

For the third quarter of 2024, core machinery orders fell 1.3% quarter-on-quarter and 0.4% year-over-year.

For the fourth quarter of 2024, core machinery orders are expected to increase 5.7% quarter-on-quarter and 8.0% year-over-year.