Japan - Core Machinery orders for November
+5.7% m/m for a huge beat
- expected -1.4%, prior +5.0% m/m
+4.1% for a ditto
- expected -1.0%, prior +2.3% y/y
The result further underlines the expectations for a pick up data in capital expenditure - core orders is used as an indicator of capital spending in the coming six to nine months. Be aware, though, it's a volatile data set indeed.
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The data comes from Japan's Cabinet Office.
Core orders exclude those of ships and electric power utilities