TOKYO, Dec 11 (Reuters) - Japan’s core machinery orders rose 0.6 percent in October, rebounding from a decline in the previous month, government data showed on Wednesday, in a sign that companies may slowly increase capital expenditure.
The month-on-month increase in core orders, which exclude those of ships and electric power utilities, matched the median forecast in a Reuters poll of economists. It followed a 2.1 percent drop in September.
“Machinery orders are rising moderately as a trend,” the government said, revising up its assessment of the data.
Compared with a year earlier, core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, increased 17.8 percent, against the median estimate for a 15.0 percent gain.
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