Japan Core Machinery Orders for March: -3.9% m/m (vs. expected -3.0%)

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Japan Core Machinery Orders is used as an indicator to business spending (capex) in the future (about 6 to 9 months out).

March -3.9% m/m

• expected -3.0%, prior +2.1%

And for the y/y, comes in at -2.4%

• expected 0.3%, prior +2.4%

the data announced from Japan's Cabinet office. They also summarise the January to March quarter, with a fall of -3.9% q/q but do say the outlook is for a bounce back in the 2nd quarter , April to June seen at +7.1% q/q

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