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