I posted on the Japan September Machinery Orders earlier, which came in at a promising result (data here)
One thing led to another ... and then led to the excitement of the Aussie employment report and I therefore didn't get much of a chance to comment on the data
So, here it, is ... I've tapped a few sources ... its a bit late ... :-(
Reuters:
Core machinery orders (a leading indicator of capex) rose in September for the first time in four months ... gains in orders for equipment used in construction, chemicals and public transport sectors
Companies forecast only modest gains in orders in October-December, a sign the economy's recovery from an expected recession could be slow
Many policymakers are counting on gains in business investment to create new jobs, increase productivity and drive growth, so the machinery orders data suggest the government still faces an urgent task in convincing companies to invest
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Note: Core machinery orders exclude those for ships and power generators
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Latest Reuters poll:
- The economy is seen to have contracted at an annualized rate of 0.2 percent in the third quarter, following a 1.2 percent contraction in April-June, the poll of 19 economists showed.
