Japan: Core machinery orders growth gains momentum in July
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—expanded 5.3% in month-on-month seasonally-adjusted terms in July, which was above June’s 0.9% increase.
On an annual basis, machinery orders grew 12.8% in July, which was significantly better than June’s 6.5% expansion. Moreover, the trend improved, with the annual average growth of machinery orders coming in at 9.1% in July, up from June’s 9.0% reading.