Japan Core Machinery Orders for August -2.4% m/m (expected 1.7%)

Japan Core Machinery Orders is used as a capex indicator in the months ahead.

For August, -2.4% m/m

• expected 1.7%, prior 0.9% m/m

and +17.0% y/y

• expected 14.7%, prior 11.1% y/y

The commentary accompanying the release from the Japanese government says the recovery in machinery orders is stalling. Cuts its assessment.