April 12, 2017
TOKYO - Japan's seasonally adjusted core machinery orders in February rose 1.5 pct from the previous month, the Cabinet Office said Wednesday.
Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, came to 850.5 billion yen.
The February result, which followed a 3.2 pct decrease in January, was weaker than the median estimate of a 3.6 pct rise in a Jiji Press survey of 20 economic research institutes.
The Cabinet Office kept unchanged its view that moves toward recovery have stalled for machinery orders.
Orders from manufacturers rose 6.0 pct after falling 10.8 pct the previous year.
Demand for power generators pushed up orders from pulp and paper producers.
Food producers and general-purpose and production machinery makers logged increases, while orders from electric machinery makers and shipbuilders decreased.
Core orders from nonmanufacturers gained 1.8 pct, the third consecutive rise.
Growth was seen in the sector categorized as other nonmanufacturers thanks to a large order related to a nuclear fuel-related project. The financial, insurance and information service industries were also firm. (Jiji Press)
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