16 Jan '12, 1am

Japan machinery orders soar 14.8% in November

Japan machinery orders soar 14.8% in November

TOKYO: Japan's core private-sector machinery orders, a leading indicator of corporate capital spending, jumped 14.8 percent in November from the previous month, official data showed Monday. The core data, which excludes volatile demand from power companies and for ships, was significantly stronger than market expectations of a 5.6 percent increase. The robust outcome followed two straight months of decline, as Japanese firms hesitated to invest due in part to the Thai floods, the sovereign debt crisis in Europe and a high yen. But reconstruction demand following the March 11 earthquake and tsunami, fuelled by the government's massive spending programmes, is supporting private demand, experts have said.

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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