Japan sees further signs of recovery as short-term interest rates keep rising slowly, but steadily. It may signal the beginning of the end of the "carry" trade.
Machinery orders in Japan rose faster than expected in November, official figures have shown, indicating rising strength in the economy.
Core machinery orders, which were up 3.8% in November from the month before, are a key indicator of investment.
The latest figure reinforces the view that Japan's economic recovery will be based more on corporate than on consumer spending in months to come.
More global economic trends on The Peter Dag Portfolio (www.peterdag.com).
George Dagnino, PhD
aka Peter Dag
www.peterdag.com
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