Japan's core machinery orders jump 17.1% in Oct
[TOKYO] Japan's core machinery orders rose 17.1 per cent in October from the previous month, government data showed on Wednesday, in a bright sign for an economy that has seen firms cut capital expenditure as the Covid-19 crisis hit demand.
The increase in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, compared with a 2.8 per cent rise forecast by economists in a Reuters poll, the Cabinet Office data showed.
Compared with a year earlier, core orders, which exclude those for ships and electricity, rose 2.8 per cent in October, versus an 11.3 per cent drop seen by economists.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Indian vote body tells X to remove Modi party video targeting Muslims, opposition
Inflation-hit Argentina has a new top banknote, worth just US$10
Trade between Singapore and Asean was at S$295.6 billion in 2023
One out of every 24 New York City residents is a millionaire
Private credit faces pain from high interest rates, Moody’s says
BOE postpones Long-Term Repo Operation due to tech issues