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Japan core machinery orders rise 3.4% in August

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Japan core machinery orders rise 3.4% in August

Japan's seasonally adjusted core machinery orders edged up 3.4% month over month in August from an 8.0% rise in July, the Cabinet Office said Oct. 11.

Compared with a year earlier, core orders, which exclude ships and orders from electric power utilities, grew 4.4% in August, Reuters reported.

The increase in core orders, regarded as an indicator of capital spending in the next six to nine months, showed a tentative sign of pickup in capital spending, according to Reuters.