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Japan Feb machinery orders rise unexpectedly in positive sign for capex

Reuters  |  TOKYO 

By Stanley WhiteTOKYO (Reuters) - Japan's core machinery orders rose unexpectedly in February for a second consecutive month thanks to increased orders from manufacturers, a positive sign of corporate investment supporting economic growth.The 2.1 percent increase in core orders, a highly volatile data series regarded as a good indicator of capital spending in the next six to nine months, handily beat the gloomy median estimate for a 2.5 percent decline forecast in a Reuters poll of economists.The Bank of Japan's tankan sentiment survey last week showed that mid-sized manufacturers planned to ...

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First Published: Wed, April 11 2018. 06:38 IST