Japan Core Machinery Orders for December
+5.2% for a good beat
- expected -6.1%, prior +1.5% m/m
+11.8% y/y
- expected %, prior % y/y
This is better news again for the Japanese economy (the news has been less bad so far this week for the economy … however with the new state of emergency in January the data may well deteriorate again.
The Government has rtasied its assessment on machinery orders in response to this better data.
A caveat with this data point each month is it is highly volatile. Still +11.8% y/y is good news. the data is indicative of capex 6 to 9 months ahead.
After its move above 106 earlier and highs over 106.20 (briefly) USD/JPY is little changed circa 106.10.