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(RTTNews) – The value of core machine orders in Japan was down a seasonally adjusted 2.4 percent on month in August, the Cabinet Office said on Wednesday – coming in at 839.3 billion yen.

That missed expectations for an increase of 1.7 percent following the 0.9 percent gain in July.

On a yearly basis, core machine orders jumped 17.0 percent – exceeding forecasts for a gain of 14.7 percent following the 11.1 percent increase in the previous month.

For the third quarter of 2021, core machine orders are forecast to climb 11.0 percent on quarter and 24.4 percent on year.

The total value of machinery orders received by 280 manufacturers operating in Japan fell 7.8 percent on month and spiked 25.2 percent on year in August.