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Japan Investment November 2023

Japan: Core machinery orders dip in November

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—decreased 4.9% in month-on-month seasonally adjusted terms in November, which contrasted October’s 0.7% increase. The outturn marked the worst reading since May.

On an annual basis, machinery orders dropped 5.0% in November, which was notably below October’s 2.2% fall. Accordingly, the trend pointed down, with the annual average variation of machinery orders coming in at minus 4.1%, down from October’s minus 4.0%.

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