machinery order
TOE Alert: Machinery Orders up a Lot, But Beware of Monthly Gyrations
written by Richard Katz on December 09, 2015
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.
