Japan Investment November 2019

Japan

Japan: Core machinery orders jump in November, rising for the first time in five months

January 16, 2020

Core machinery orders (private sector, excluding volatile orders), a leading indicator for capital spending over the coming three- to six-month period, increased in November for the first time in five months.

Specifically, core machinery orders rose 18.0% in November compared to the previous month in seasonally-adjusted terms, contrasting the 6.0% decrease in October and easily surpassing market analyst expectations of a 3.2% gain.

In year-on-year terms, core machinery orders increased 5.3% in November, contrasting the 6.1% decrease in October. The annual average variation in core machinery orders improved to a 0.4% decrease in November from a 0.7% decrease in October.

FocusEconomics Consensus Forecast panelists expect gross fixed investment to increase 1.0% in 2020, which is up 0.3 percentage points from last month’s projection. In 2021, the panel sees gross fixed investment growth at 1.2%.


Author:, Economist

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Japan Investment November 2019

Note: Month-on-month changes of seasonally adjusted core machinery orders and year-on-year growth rate in %.
Source: Ministry of Economy, Trade and Industry (METI) and FocusEconomics calculations.


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