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Japan's core private-sector machinery orders gain 10.1 pct in April
Japan's core private-sector machinery orders increased 10.1 percent in April from a month earlier, the government said in a report on Monday.
According to the Cabinet Office, the orders, excluding those for ships and utilities because of their volatility, totaled 943.1 billion yen (8.6 billion U.S. dollars) in the recording month.
Machinery orders are a key advance indicator for corporate capital spending and the government uses the data to predict the strength of business spending in a six to nine month period ahead.
Increased capital expenditure here has helped sustain the economy with Japanese companies producing more machinery to meet rising demands from overseas markets.
Such business investment accounts for roughly 15 percent of Japan's gross domestic product.
Types of machinery included in the monthly government survey comprise engines and turbines, heavy electrical machinery, electronic and communication equipment, industrial machinery, machine tools, railway rolling stock, road vehicles, aircraft, ships, water craft as well as sub types in those categories.
Source: Xinhua News
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