Japan’s core machinery orders rose in December at the fastest pace in six months, and companies expect orders to increase in the current quarter in an positive sign that business investment will underpin a firm recovery for the recession-hit economy.
The 8.3 percent month-on-month gain in core machinery orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, blew past the median estimate for a 2.4 percent increase.
Companies surveyed by the Cabinet Office also expect orders to rise 1.5 percent in January-March, after a 0.4 percent quarterly increase in October-December.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.