In Japan, Construction Orders YoY measures the percentage change in the value of new construction orders received by 50 major constructors compared with the same period one year earlier. It reflects the value of original contracts and construction for own use, providing insights into future construction activity and overall economic health.
A higher than expected figure should be seen as positive (bullish) for the JPY while a lower than expected figure should be seen as negative (bearish) for the JPY.