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Japanese core machinery orders to post gains – Goldman Sachs

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Dec 8, 2015.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
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    FXStreet (Delhi) – Research Team at Goldman Sachs, expects Japanese October core machinery orders to rise 1.0% mom as some leading indicators are showing signs of bottoming out.

    Key Quotes

    “Core private-sector machinery orders (excluding orders for ships and from electric power companies) moved back into positive territory in September for the first time in four months, at +7.5% mom, following sharp declines over the summer.”

    “The October-December order outlook, released together with the September data, calls for 2.9% qoq growth, but this represents the level that would be reached if core machinery orders continue to post zero month-on-month growth in October-December, so it is essentially a forecast for flat growth.”

    “Domestic machine tool orders, a leading indicator, had been declining sharply, but the decline is now coming to halt, with readings of -2.6% yoy in September and -0.9% in October. We expect October core machinery orders to show a 1.0% mom rise.”
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