Core Machinery orders data is from Japan's Cabinet Office
- Down 8.1% m/m vs. expected -2.0% and prior +3.5%
- -3.5% y/y, expected +2.0%, prior +4.4%
Companies forecast that core orders (excludes those for ships and electric power utilities):
- to fall 3.5 percent in the October-December quarter (after a 4.7 percent increase in July-September)
As noted in my heads up to this data:
- a highly volatile data series
- used as an indicator of capital spending in the coming six to nine months
Fastest fall since May of 2014
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Also, bank loan data out at the same time:
- Bank Lending excluding trusts October, 2.8% y/y: expected 3.0%, prior 2.9%
- Bank Lending including trusts 2.8% y/y: expected 3.0%, prior 3.0%
This data is for outstanding loans & outstanding commercial paper at Japan's four main categories of banks including the credit union shinkins
