Japan: Core machinery orders growth dips in October
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—rose 0.7% month-on-month in seasonally adjusted terms in October (September: +1.4% mom).
On an annual basis, machinery orders fell 2.2% in October, matching September’s fall. Meanwhile, the trend pointed down, with the annual average variation of machinery orders coming in at an over two-year low of minus 4.0% in October, down from September’s minus 3.9% reading.