Ugly results from this. This data point is used as an indicator for capex to come down the pipeline, in around 6 to 9 months. Admittedly it’s a volatile data point. Still, big misses both m/m and y/y.

Accompanying the data are assessments from Japan’s government:

  • cuts machine orders assessment
  • says orders appear to be stalling

Earlier data from Japan was not encouraging either:

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Ahead today is the Bank of Japan policy statement. Due in the 0230 to 0330 GMT time window (2130 – 2230 US ET).

Previews:

jpy