Core Machinery Orders for August

+3.4 % m/m

  • expected +1.0% m/m, prior +8.0%
  • second consecutive month higher

+4.4 % y/y

  • expected +0.7%, prior -7.5%

Data from the Cabinet Office. The government says machinery orders are showing signs of a pick-up. Raises its assessment of machinery orders.

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As I noted earlier, this a volatile data series

  • Its used as an indication to capital spending in the coming six to nine months
  • Core orders exclude those for ships and electric power utilities

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A Japanese economic data point, so of course yen is barely changed.