Japan's Oct machinery orders rise for first time in 3 months: Govt data

Japan's core machinery orders rose in October for the first time in three months as service sector firms ramped up investment amid low COVID-19 infections, a welcome sign firms were spending and the broader economy was recovering.

The world's third-largest economy is set to post a solid rebound this quarter after a larger-than-expected contraction in July-September, although the outlook is currently blurred by uncertainties around the new Omicron coronavirus variant.

Core machinery orders, a highly volatile leading indicator of capital spending in the coming six to nine months, rose 3.8% in October from the previous month, the Cabinet Office data