Japanese data for machinery orders and PPI
November Machine orders
-5.1% m/m
– expected -1.4%, prior +4.1%
– largest decline since April 2016
– Not a positive sign for capex intentions (its regarded as an indicator of capital expenditure in the coming six to nine months)
+10.4% y/y
Japan: Nov Machine Orders -5.1% m/m (expected -1.4%) & Dec PPI -1.2% y/y (expected -1.4%)
