Japanese machine orders surged in December, rising 20.1% compared to the +8.0% expected and the -11.3% prior. The strong data narrows the year-over-year drop to 1.5% compared to -20.5% in November and -10.8% expected. At the same time, deflation wasn't as bad as expected, according to the corporate goods price index, which showed a 2.1% yearly decline, compared to the -2.3% expected and -3.9% prior.
Japanese Deflation Wasn't As Bad As Expected
Japanese machine orders surged in December, rising 20.1% compared to the +8.0% expected and the -11.3% prior. The strong data narrows the year-over-year drop to 1.5% compared to -20.5% in November and -10.8% expected. At the same time, deflation wasn't as bad as expected, according to the corporate goods price index, which showed a 2.1% yearly decline, compared to the -2.3% expected and -3.9% prior.
