Report

TOE Alert: Machinery Orders up a Lot, But Beware of Monthly Gyrations

posted by Richard Katz on December 09, 2015

Found in Japan, categorized in Macro

Tags: Richard Katz TOE Japan machinery order

Report Cover

Headline

Bottom line: core orders could be a genuine “green shoot,” or one month’s surprising number may be misleading us. We’ve no choice but to wait for a few more months’ worth of data.

Abstract

Japan-watchers got very excited because core private machinery orders in October were up 10% on a month-on-month basis, However, the monthly movements in orders have very large gyrations, even though the most volatile elements are removed from core orders. Bottom line: core orders could be a genuine “green shoot,” or one month’s surprising number may be misleading us.

About Richard Katz

Richard Katz

Richard Katz is Editor of The Oriental Economist Report, a monthly newsletter on Japan, as well as the semi-weekly TOE Alert e-mail service on Japan, and is also a special correspondent at Weekly Toyo Keizai, a leading Japanese business weekly.

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