February Core machinery orders data from Japan.
-9.8% m/m
- expected -1.5%, prior -2.0%
+4.3% y/y
- expected 14.5%, prior 5.1%
In response, the Japanese government says the pick up it had observed in machinery orders is stalling. It cuts its assessment.
Japan data: Core machinery orders -9.8% m/m (-1.5% expected)
- This data point is used as an indicator for capex to come down the pipeline, in around 6 to 9 months.
