Twice As Nice For Japan’s Machinery Orders

Japan’s core machinery orders rose 13.4 percent in January from a month earlier, well above analyst expectations in a Reuters poll for a rise of 7 percent, data on Thursday showed.

The data, which is an indicator or capital spending six to nine months down the line, is a positive sign that a pick up in business investment could be around the corner.

“They are obviously good numbers,” Bank of Singapore Chief Economist Richard Jerram told CNBC Asia’s “Squawk Box.”

“Exports have been struggling but capex [capital expenditure ] is picking up, which suggest there is a broad lift across the domestic economy,” he added.

CNBC

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