FXstreet.com (Barcelona) - Economists Mika Ikeda, Shuichi Obata and Tomo Kinoshita have examined Japanese Machinery Orders data and believe that signs of a global recovery are needed to regain upward momentum.
In July, core machinery orders rose 4.6% m-m, ahead of the consensus forecast of +2.0% and close to the top of the forecast range of -0.7% to +5.2%. They see the result as “stronger than we had expected given signs of economic slowing globally and in Japan.”
They see weakness in orders from non manufacturers, striking growth from manufacturers and ultimately believe that signs of global economic recovery are needed for machinery orders to regain upward momentum again.
In July, core machinery orders rose 4.6% m-m, ahead of the consensus forecast of +2.0% and close to the top of the forecast range of -0.7% to +5.2%. They see the result as “stronger than we had expected given signs of economic slowing globally and in Japan.”
They see weakness in orders from non manufacturers, striking growth from manufacturers and ultimately believe that signs of global economic recovery are needed for machinery orders to regain upward momentum again.
