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.
