Japan October machinery orders rise on strong manufacturing sector
FILE PHOTO: Workers repair a facility of a chemical factory at the Keihin Industrial Zone in Kawasaki, Japan September 12, 2018. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO: Japan's core machinery orders rose 2.1 per cent in October from the previous month, government data showed on Monday (Dec 16).
That compared with a 1.2 per cent rise expected by economists in a Reuters poll.
On a year-on-year basis, core orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, grew 5.6 per cent, versus a forecast for a 0.7 per cent uptick, the Cabinet Office data showed.
By sector, core orders from manufacturers jumped 12.5 per cent month-on-month in October, while those from non-manufacturers slipped 1.2 per cent in the same month.
The Cabinet Office left its assessment of machinery orders for October unchanged, saying a recovery was pausing.
