Japan’s machinery orders tumbled with the fastest pace since 2018, while exports fall to its 14th straight month of decline, as the third-largest economy effected by the Coronavirus outbreak and a recent sales tax hike.
Exports fall by 2.6% on yearly basis in January, less than expectations of falling by 6.9%, following drop in December by 6.3%.
On a separate data, core machinery orders dropped by 12.5% on monthly basis in December, compared to markets forecast of falling by 9%. “Machinery orders is an indicator refer to capital spending through next 6-9 months”.
