Japan's Core Machinery Orders Up 2.9 Pct In March

Japan's seasonally adjusted core machinery orders in March rose 2.9 percent from the previous month, marking two consecutive months of increase, government data showed on Wednesday

TOKYO, (UrduPoint / Pakistan Point News - 22nd May, 2024) Japan's seasonally adjusted core machinery orders in March rose 2.9 percent from the previous month, marking two consecutive months of increase, government data showed on Wednesday.

Private-sector orders, excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, stood at 913 billion Yen (5.

83 billion U.S. Dollars), according to data released by the Cabinet Office.

The government agency raised its basic assessment of machinery orders, saying there are signs of recovery.

By sector, orders from manufacturers gained 19.4 percent to 473.1 billion yen, while orders from non-manufacturers fell 11.3 percent to 448.6 billion yen, the data showed. (1 yen equals 0.0064 USD)