Tokyo: Japan’s core machinery orders rose for the first time in two months, jumping 13.9 per cent in June from the previous month,the government said on Wednesday.
The reading beat the median forecast of a 1.5 per cent fall by analysts surveyed by the Nikkei Business Daily, and followed a 7.8 per cent decline in May.
Core private sector machinery orders, which exclude volatile categories such as ships and utilities, grew to 960.3 billion yen ($9 billion), the Cabinet Office said.
The statistic is considered an indicator of future capital spending.
The office expected machinery orders for the third quarter to drop 6.1 per cent from the previous three-month period to 2.55 trillion yen.
Machinery orders in the April-to-June period climbed 7.5 per cent from the previous quarter to 2.72 trillion yen for the first increase in three quarters. Overseas demand, an indicator of future exports, rebounded 6.7 per cent month-on-month to 855.5 billion yen in June, the office said. — dpa
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