Japan: Core machinery orders growth eases in November
January 17, 2022
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—increased 3.4% in month-on-month seasonally-adjusted terms in November, which was a slight moderation from October's 3.8% increase.
On an annual basis, machinery orders grew 11.6% in November, which was notably above October’s 2.9% expansion. Moreover, the trend improved markedly, with the annual average growth of machinery orders coming in at 7.4%, up from October's 5.5% reading.
Author: Stephen Vogado, Economist