To use this site, please disable the ad blocking feature and reload the page.
This website uses cookies to collect information about your visit for purposes such as showing you personalized ads and content, and analyzing our website traffic. By clicking “Accept all,” you will allow the use of these cookies.
Users accessing this site from EEA countries and UK are unable to view this site without your consent. We apologize for any inconvenience caused.
TOKYO (Jiji Press) — Japan’s core machinery orders rose 3.8% in October from the previous month after seasonal adjustment, the Cabinet Office said Monday, showing signs that capital spending by nonmanufacturers are bottoming out after sluggishness caused by the COVID-19 pandemic.
Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, totaled ¥870.8 billion, marking their first growth in three months.
The Cabinet Office said that the pickup in machinery orders is at a standstill, keeping its assessment unchanged for the second straight month.
An agency official said: “A recovery is spreading among nonmanufacturers. Capital expenditures will pick up if the COVID-19 situation becomes calm.”
Nonmanufacturers’ orders increased 16.5% thanks to a large-scale rail car order and growing demand for computers and agriculture machinery.
Orders from manufactures dropped 15.4% after orders for chemical machinery grew in September.
Overall machinery orders, including those from the public sector and abroad, climbed 24.9% to ¥2,965.5 billion.
