Japan’s core machinery orders missed estimates for a rise m/m in May, falling instead.
Japan Core Machinery Orders (May 2024) -3.2% m/m (vs. expected +0.8%)
this is a volatile indicatorcore orders exclude ship buildings and repairs as well as electricity power generationits used as an indicator to capital spending in six to nine months. The Cabinet Office compiles the data
The Cabinet Office cut its view on
machinery orders, saying there are signs that a pick-up is
stalling.
Capital spending has been a few bright spots in Japan, with demand for machinery and technology to enhance labour productivity in the face of chronic labour shortages.
This article was written by Eamonn Sheridan at www.forexlive.com.
