Japan Oct core machinery orders up 10.7% on month: govt
[TOKYO] Japan's core machinery orders unexpectedly rose 10.7 per cent in October, posting a second straight month of gains, government data showed on Wednesday, in a sign of a delayed pickup in business investment.
The rise in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, compared with economists' median estimate of a 1.5 per cent drop in a Reuters poll, Cabinet Office data showed.
That followed a 7.5 per cent gain in September, which was the first month-on-month increase in four months.
Compared with a year earlier, core orders, which exclude those of ships and electricity, increased 10.3 per cent in October, versus a 1.4 per cent annual rise seen by analysts.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Explosions in Iran, US media reports Israeli strikes
US veto sinks Palestinian UN membership bid in Security Council
Pro-China local leader ousted in Solomon Islands election
Japan‘s March inflation slows to 2.6%, eyes on BOJ move
S&P downgrades Israel rating on heightened geopolitical risk
‘We have our jury’: panel selected for Trump criminal trial