Japan's April core machinery orders up
Rise signals companies are more optimistic about capital spending
Tokyo
JAPAN'S core machinery orders unexpectedly rose in April at the fastest pace in four months, in a sign companies are turning more optimistic about business investment as domestic demand strengthens.
The 3.8 per cent month-on-month rise in core orders, a highly volatile data series seen as an indicator of capital spending in the coming six to nine months, compares with the median estimate of a 2 per cent annual decline and follows a 2.9 per cent increase in March.
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