Japan Investment November 2016


Japan: Machinery orders drop in November

January 16, 2017

Core machinery orders (a leading indicator of capital spending over a three- to six-month period) in Japan fell in November after briefly recovering in the previous month. Headline machinery orders (private sector, excluding volatile orders) fell 5.1% in November from the previous month in seasonally adjusted terms, which contrasted the 4.1% increase recorded in October.

Overall non-manufacturing orders contracted sharply in November, while overall manufacturing orders and export orders rose. Compared to the same month of the previous year, core machinery orders increased 10.4% in November, which contrasted the 5.6% fall observed in October. The annual average variation in core machinery orders rose from 0.2% in October to 0.8% in November.

FocusEconomics Consensus Forecast panelists expect private non-residential investment to rise 1.3% in 2017, which is up 0.3 percentage points over last month’s projection. In 2018, the panel sees private non-residential investment expanding 1.7%.

Author:, Economist

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Japan Investment November 2016

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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