The global slow motion train wreck continues

by WARREN MOSLER

The global slow motion train wreck continues:

Japan:

Core machinery orders in Japan, which exclude those of ships and electrical equipment, declined 6.0 percent from a month earlier in October 2019, following a 2.9 percent fall in September and compared with market expectations of a 0.9 percent increase. It marked the longest period of month-on-month contraction since a similar stretch to January 2009, mainly due to lower demand for fabricated metal products (-44.3 percent), information & communication electronics equipment (-43.7 percent), ship building (-31.9 percent), iron & steel (-21.1 percent), business oriented machinery (-15.2 percent) and general-purpose and production machinery (-10.9 percent).

Mexico Industrial Output Falls the Most in 5 Months

Mexico’s industrial production fell 3 percent from a year earlier in October 2019, following a 1.8 percent decline in the previous month and above market forecasts of a 2.1 percent decrease. manufacturing production dropped 1.2 percent, after rising 0.8 percent in September; and construction output declined further (-9.3 percent compared to -8.3 percent).

May just be from the Thanksgiving holiday and reversed next week: