Japan's machinery orders rebound in July

Japan's machinery orders rose for the first time in two months in July, backed by strong demand from manufacturers.

The Cabinet Office said on Wednesday that major machinery makers received orders reaching 7.8 billion dollars, up 0.9 percent from June in yen terms. This excludes ships and electric utilities as orders from these sectors fluctuate widely.

Orders from manufacturers grew by 6.7 percent. Electronics firms ordered more machinery for the production of semiconductors. Shipbuilders bought more engines.

Meanwhile, orders from non-manufacturers fell 9.5 percent.

Officials say growth has been weak over the last few months. They say the pandemic may have affected manufacturing and must be assessed.

The officials added they will closely monitor to see how the move by automakers to cut production will affect corporate investments in facilities and equipment.