Japan's core private-sector machinery orders rise 3.4 pct in August

Source: Xinhua| 2017-10-11 12:20:47|Editor: Liangyu
Video PlayerClose

TOKYO, Oct. 11 (Xinhua) -- Japan's core private-sector machinery orders rose 3.4 percent in August on month, the government said in a report on Wednesday.

The Cabinet Office, following two successive months of solid orders, raised its assessment, stating machinery orders show "signs of picking up," marking the first upgrade in 13 months.

The orders in the recording period totaled 882.4 billion yen (7.9 billion U.S. dollars), the Cabinet Office's data showed.

The government's figure for August, which excludes volatile shipbuilding and power-companies, came in higher than the median market forecasts in the recording period, and marks the first significant rise since an 8.0 percent leap logged in July.

At that time the Cabinet Office said orders had "come to a standstill."

The latest figure suggests that corporate capital spending is showing some signs of an uptick despite Japan's exporters being pressured by a slowdown in overseas demand, and ongoing political uncertainty ahead of the upcoming lower house election.