October Japanese core machine orders
- Prior was -11.5%
- Core m/m orders +17.1% vs +2.5% expected (largest jump since series started in 2005)
- Prior m/m orders -4.4%
This is a forward-looking capex measure and these are very-strong numbers.
Separately, Japanese M2 and M3 data were both a tad stronger than anticipated.
There are more and more data points -- globally -- that show that the resurgence in the virus isn't derailing the recovery. People are learning to live with it and companies are looking past it. Of course, all that hinges on continued generous government support but there's no sign of that stopping in Japan or anywhere else.
