A big miss for this, admittedly volatile , data: Japan - September Core Machinery Orders -8.1% m/m (expected -2.0%)
via Reuters:
- a sign that business investment is losing momentum
- Manufacturing orders decline driven by lower orders for cranes and other heavy machinery used in construction
- Service-sector orders fell, led by falling orders for trains, and computers and servers used in finance and insurance
- Prime Minister Shinzo Abe has made increasing capital expenditure a priority in his economic agenda
Financial Times has this (via Fast FT) ... in brief:
- a sometimes volatile proxy for the corporate sector's willingness to invest
- worse-than-expected decline in September
- snapping two months of gains
- Capital Economics senior Japan economist Marcel Thieliant noted that "even though machinery orders fell sharply in September, they recorded a solid rise last quarter so investment spending should have risen further"
