Japan core machinery orders dip 3.3% in August

Perfect storm of economic and political factors led to renewed contraction.

Japan's core machinery orders fell -3.3% m/m amid a consensus of -2.5% m/m in August, the first decline in three months, noted BBVA.

"The worse-than-expected data points to a stalling economy, which has been undermined by the global slowdown, the strong yen, and more recently the deteriorating relationship with China due to the island dispute," said BBVA.

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