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Japan core machinery orders rise 5.5 percent in April

Japan core machinery orders rise 5.5 percent in April

Japanese core machinery orders _ a key barometer of corporate capital spending _ rebounded in April following two straight months of big declines, the government said Tuesday.
Core machinery orders, which exclude often volatile orders from electric power firms and those for ships, rose 5.5 percent in April from the previous month, the Cabinet Office said. Orders posted an 8.3 percent drop in March and a 12.3 percent plunge in February.
Core orders are considered an important gauge of business investment in the future. The April bounce, while positive, is not big enough to reverse the overall declining trend in machinery orders amid an economic slowdown and weak corporate sentiment.
The gain was stronger than an estimate of a 2.6 percent increase from the previous month by economists surveyed by Dow Jones Newswires.
Compared with a year earlier and without seasonal adjustments, core orders rose 0.5 percent in April, the data showed.


Updated : 2021-04-21 20:08 GMT+08:00