Japan machinery orders +4.9% y/y (expected +5.4%)

Japan core machine orders data for July 2025. These data are a leading indicator of capital spending in the coming six to nine months. It's a volatile data set.

-4.6% m/m

• expected -1.7%, prior 3.0%

+4.9% y/y

• expected +5.4%, prior +7.6%

The y/y headline flattered the data, that m/m is terrible.

-

The Bank of Japan statement is due tomorrow, on hold is expected:

• Bank of Japan meeting begins today, rates expected to kept on hold - Nikkei report