Japan Core Machinery Orders (February): 1.8% m/m

Data comes in at

+1.8% m/m

• expected 2.8% m/m, prior -5.4%

-5.5% y/y

• expected -4.6% y/y, prior -2.9%

Also, data at the same time:

• Japan PPI for March: 1.3% y/y (expected 1.0%)

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The Core machine orders data is indicative of business capex around six to nine months in the future.