Japan — Core Machinery Orders (January): +8.2% m/m (expected +5.2%)

A stronger than expected showing for core machine orders +8.2% m/m

  • expected +5.2% m/m, prior -11.9%

+2.9% y/y

  • expected -0.7% y/y, prior -5.0%

The Cabinet Office (publishers of this data) adds on that orders for machinery are recovering. 
This data point is used as an indicator for capex to come down the pipeline, in around 6 to 9 months.
—Out at the same time:

  • Minutes of the BOJ January meeting

—Later today, the scheduled Bank of
Japan Japanese Government Bond buying operation 

  • 1-3, 3-5, 5-10 years

—ps for background on this machinery order data point, check out my preview here
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