The data is here from earlier:
Recap of a few points via Reuters:
- "Although 'core' machinery orders dropped sharply in August due to a crash in non-manufacturing orders, Q3's average still points to an expansion in non-residential investment growth," said Darren Tay, Japan economist at Capital Economics. "What's crucial is that Q3's average machinery orders are so far 1% stronger" than that of the second quarter.
- By sector, a 21.4% decline in non-manufacturers' orders pulled down the headline reading. This was largely due to the transportation and postal sub-sector reversing the previous month's gains, the data showed. Orders from manufacturers advanced 10.2% from the previous month, lifted by a large-size order for a nuclear motor in the non-ferrous metals sub-sector.
- Overseas orders dropped 18.9% for their biggest tumble since March 2021 and the fourth straight month of declines, highlighting growing concerns about the external environment. "Capital goods makers have benefited up to now from overseas demand, but the momentum is weakening due to the impact of the overseas economic slowdown," said Takeshi Minami, chief economist at Norinchukin Research Institute. "If the slowdown overseas becomes a real problem, companies may do away with their capital expenditure plans," he said
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Meanwhile, USD/JPY on the rise:
