Japan April core machinery orders rise 10.1% month on month

[TOKYO] Japan's core machinery orders rose 10.1 per cent in April from the previous month, reversing the prior month's decline in a sign of a recovery in capital spending, Cabinet Office data showed on Monday.

The rise in core orders, a highly volatile data series regarded as an indicator of capital expenditure in the coming six to nine months, compared with economists' median estimate for a 2.8 per cent increase in a Reuters poll.

Compared with a year earlier, core orders, which exclude those for ships and from electric power utilities, grew 9.6 per cent in April, versus an estimated 3.9 per cent rise.

REUTERS