Core machine orders is indicative of business capes around six to nine months in the future

-0.1 % m/m

  • expected -1.1% m/m, prior 0.0%

0.9% y/y

  • expected +3.4% y/y, prior 0.8%

While the consensus estimate was for a m/m decline the assessments I had seen some were looking for a gain on the month, heightened by an improving PMI in December and rising shipments of capital intensive goods for the vehicle sector. But, slower growth in China is a weight, so eyes are on this issue in days and weeks ahead out for a possible de-escalation in tensions for improvement here.

More from the report:

  • The Japanese government have cut their assessment of core orders, say they are stalling