Japan’s Cabinet Office has released details of the value of manufacturing machinery orders received by companies operating in Japan.
In October, the figure is up 3.3% from September on a seasonally adjusted basis. Private-sector machinery orders, excluding those for ships and power generation, increased a seasonally adjusted by 4% in October.
Private sector capital spending is just an indicator, and a rather volatile one, of the direction of the economy. The Japan government is hoping that capital spending will support sustainable growth.
Capital investments fell in the July-September quarter for the first time in nearly four years and in the third quarter the Japanese economy grew much slower than initially estimated driven lower by global economic uncertainty.
Source: ITTO
