Japan: Core machinery orders posts quickest growth since May in October
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—rose 3.8% month-on-month in seasonally-adjusted terms in October (September: 0.0% mom). October’s figure marked the best result since May.
On an annual basis, machinery orders grew 2.9% in October, which was notably below September’s 12.5% expansion and marked the weakest result since March. Meanwhile, annual average growth of machinery orders was 5.5% in October, mirroring September’s result.