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