Core Machinery Orders from Japan for October - an indication of capex to come 6 to 9 months ahead

+5.0 % m/m

  • expected +2.9% m/m, prior -8.1%

+2.3 % y/y

  • expected -3.4%, prior -3.5%

Indicative of the likely resilience in capital spending

Yen not doing too much

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Cabinet Office data

  • And a volatile data set indeed, as I say quite often
  • It's a measure of 'core' machine orders, exclude those of ships and electric power utilities