Japan Jan core machinery orders rise 15% month-on-month

[TOKYO] Japan's core machinery orders rose a more-than-expected 15 per cent in January from the previous month, Cabinet Office data showed on Monday, in a sign that rising business investment could support economic growth.

The rise in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, was much stronger than economists' median estimate for a 3 per cent increase.

Compared with a year earlier, core orders, which exclude those of ships and electricity, rose 8.4 per cent in January, versus a 3.6 per cent decline seen by analysts.

REUTERS