Japan: Core machinery orders deteriorate in January
Core machinery orders—which cover the private sector, exclude volatile orders and are a leading indicator for capital spending over the coming three-to-six-month period—decreased 1.7% month-on-month in seasonally adjusted terms in January (December: +1.9% mom).
On an annual basis, machinery orders plummeted 10.9% in January (December: -0.7% yoy). Accordingly, the trend pointed down, with the annual average variation of machinery orders coming in at minus 4.6%, down from December’s minus 3.6%.