纽币/日元 (NZDJPY) 加自选

2025年7月，日本核心机械订单（不包括船舶和电力等波动性行业）环比下降4.6%，至8980亿日元，扭转了6月份3%的增长，远低于1.7%的下降预期。非制造业领跌，下滑3.9%至5011亿日元，而制造业订单增长3.9%至4284亿日元。按行业划分，有色金属（-53.5%）、房地产（-44%）、采矿和采石（-21.2%）以及金融和保险（-16.7%）的收缩幅度最大。私营部门订单同比增长4.9%，低于6月份7.6%的增长率和5.4%的预期。核心机械订单被视为未来六到九个月资本支出的一个关键但不稳定的领先指标。

Japan’s core machinery orders—which exclude volatile sectors such as ships and electric power—fell 4.6% month-over-month to ¥898 billion in July 2025, reversing a 3% increase in June and coming in well below expectations for a 1.7% decline. The drop was led by the non-manufacturing sector, which slipped 3.9% to ¥501.1 billion, while manufacturing orders rose 3.9% to ¥428.4 billion. By industry, the steepest contractions were recorded in non-ferrous metals (-53.5%), real estate (-44%), mining and quarrying (-21.2%) and finance and insurance (-16.7%). Year-on-year, private-sector orders rose 4.9%, easing from June’s 7.6% growth and missing forecasts of 5.4%. Core machinery orders are seen as a key yet volatile leading indicator of capital expenditure over the coming six to nine months.

日本机械订单同比增长4.9%（预计增长5.4%）。2025年7月日本核心机器订单数据。这些数据是未来六到九个月资本支出的领先指标。

Japan machinery orders +4.9% y/y (expected +5.4%).Japan core machine orders data for July 2025. These data are a leading indicator of capital spending in the coming six to nine months.

新西兰经济在2025年第二季度同比收缩0.6%，延续了上一季度0.6%的下降趋势，打破了持平增长的预期。经济衰退的原因是商品生产行业下降4.7%（第一季度为-2.8%），建筑业（-7.6%对-8%）和制造业（-3.2%对+2%）大幅下降。相比之下，服务业增长0.5%，高于第一季度的0.1%，而第一产业小幅增长0.1%，低于此前的0.5%。按季度计算，GDP下降0.9%，扭转了第一季度0.9%的增长。

New Zealand’s economy contracted by 0.6% year-on-year in Q2 2025, extending the 0.6% decline seen in the previous quarter and defying expectations of flat growth. The downturn was driven by a 4.7% drop in goods-producing industries (vs. -2.8% in Q1), with sharp declines in construction (-7.6% vs. -8%) and manufacturing (-3.2% vs. +2%). In contrast, service industries grew 0.5%, up from a 0.1% rise in Q1, while the primary sector inched up 0.1%, slowing from 0.5% growth previously. On a quarterly basis, GDP fell 0.9%, reversing a 0.9% expansion in the first quarter.

新西兰经济在2025年第二季度环比收缩0.9%，扭转了上一季度向上修正的0.8%的增长，超过了市场预期的0.2%的下降。这场经济衰退结束了连续两个季度的经济增长，此前经济连续收缩。按行业划分，初级产出下降了0.3%（第一季度为+0.5%），而商品生产行业下降了（第二季度为-3.5%对+2.4%），其中采矿业（-4.1%对+1%）和制造业（-2.4%对+0.1%）大幅下降。服务业总体持平，运输、邮政和仓储（-0.6%对+0.6%）、医疗保健和社会援助（-0.7%对+1.7%）以及金融和保险服务（-0.5%对-0.5%）显著下降。相比之下，批发贸易（+1.4%对-0.4%）、信息媒体和电信（+1.8%对-0.8%）以及租赁、雇佣和房地产服务（+0.7%对+0.3%）均有所上涨。按年度计算，第二季度GDP收缩0.6%，与第一季度的下降速度相匹配。

New Zealand’s economy contracted by 0.9% quarter-on-quarter in Q2 2025, reversing an upwardly revised 0.8% expansion in the previous quarter and exceeding market expectations of a 0.2% decline. This downturn ended two straight quarters of growth that followed back-to-back contractions. By industry, primary output fell 0.3% (vs. +0.5% in Q1), while goods-producing industries dropped (-3.5% vs. +2.4% in Q1), led by steep declines in mining (-4.1% vs. +1%) and manufacturing (-2.4% vs. +0.1%). The services sector was broadly flat, with notable declines in transport, postal and warehousing (-0.6% vs. +0.6%), healthcare and social assistance (-0.7% vs. +1.7%), and financial and insurance services (-0.5% vs. -0.5%). In contrast, wholesale trade (+1.4% vs. -0.4%), information media and telecommunications (+1.8% vs. -0.8%), and rental, hiring and real estate services (+0.7% vs. +0.3%) posted gains. On an annual basis, GDP contracted 0.6% in Q2, matching the pace of decline in the first quarter.