Japan Machinery orders for August 2024: -1.9% m/m (expected +0.1%)

Core machinery orders data from Japan for August 2024, very disappointing indeed.

-1.9% m/m

• expected +0.1%, prior -0.1%

-3.4% y/y

• expected 3.8%, prior 8.7%

Really awful data. About the best that can be said is that this is choppy data set.

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The core machinery orders data is a highly volatile series

• its used as a leading indicator of capital spending in the coming six to nine months

This article was written by Eamonn Sheridan at www.forexlive.com.