Japan: Decline in core machinery orders softens in September
Latest reading: 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—fell 0.7% in month-on-month seasonally adjusted terms in September, which followed August’s 1.9% decrease.
On an annual basis, machinery orders fell 4.8% in September, which was below August’s 3.4% fall and marking the worst result since January. Moreover, the trend pointed down, with the annual average variation of machinery orders coming in at minus 0.6%, down from August’s minus 0.3% reading.