Japan Core Machinery Orders Up 1.3% in November

Japan’s core machinery orders rose a smaller-than-expected 1.3 percent in November from the previous month, government data showed on Thursday, suggesting capital expenditure among manufacturers could weaken.

The rise in core orders, which exclude those of ships and electric power utilities, compared with a 5.0 percent rise forecast by economists in a Reuters poll. It followed a 6.4 percent decline in October, the Cabinet Office data showed.

Compared with a year earlier, core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, fell 14.6 percent, against the median estimate of a 5.8 percent annual decline. The Cabinet Office lowered its assessment of machinery orders, saying the recovery is showing signs of stalling.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.