Japan data - August Core Machine orders +6.8% m/m (beats expectations of -3.9%)

Author: Eamonn Sheridan | Category: News

Japanese machine order data is a heads up to capex in 6 to 9 months

Up a blockbuster 6.8% m/m, blowing away expectations
  • expected -3.9% m/m, prior +11.0%
y/y up 12.6% … ditto 
  • expected +1.8% y/y, prior +13.9%

The Japanese government comments accompanying the release:
  • Says machinery orders are recovering
  • upgrades machine orders assessment
Yen is, have a guess, unresponsive. Japanese data tends not to have much of an immediate effect at the best of times on the yen. 

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