Japan's core machine orders rebounded beyond expectations in November 2019 after declining for four consecutive months, data from the Cabinet Office showed.
Private-sector machinery orders, excluding volatile ones, climbed 18.0% month over month, following a 6.0% decline in October 2019. The consensus estimate of economists polled by Econoday was a 2.5% increase.
Total private-sector orders, including volatile orders, such as those from ships and electric power companies, rose 11.9% month over month in November 2019, accelerating from the 1.8% growth recorded in October 2019.
On an annual basis, core machinery orders rose 5.3% in November 2019, after falling 6.1% in the previous month.
Year over year, total private-sector orders increased 12.7% in November 2019, following a 5.6% slump in the previous month.