Data showing a surge in Japanese machinery orders is a sign that Japan Inc. is finally moving into expansion mode, just what’s needed to boost the country’s long-term growth prospects, analysts say.
Core machinery orders, a volatile number seen as an indicator of capital spending by corporates in the months ahead, soared 9.3 percent in November from a month earlier, marking a second straight month of gains.
It was the fifth biggest increase on record and well above expectations for a 1.2 percent rise by economists polled by Reuters.
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