Japanese machinery orders recover smartly

|By:, SA News Editor

As expected, Japanese machinery orders rose 0.6% in October vs -2.1% in September.

On year, bookings +17.8% vs +11.4% previously and consensus of +15%.

The figures "should ease concerns that the fledgling recovery in business...(investment) has already come to an end," says Economist Marcel Thieliant. Q3 GDP was revised down earlier this week, partly due to lower-than-expected business expenditure.

Core orders topped ¥800B for the third consecutive month for the first time since 2008. The trend "points to a renewed rise in capital spending" in Q4, says Thieliant.

The Nikkei  is -0.6%, while the USD-JPY is -0.2% at ¥102.60. (PR)

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