Japan core machinery orders up in January but underlying trend is flat

Tokyo

JAPAN's core machinery orders jumped in January, inflated by large orders from the steel industry, but economists say excluding this factor orders were probably flat from the previous month.

The 15.0 per cent monthly rise in core orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, was more than economists' median estimate for a 3.0 per cent month-on-month increase, Cabinet Office data showed on Monday.