May 22, 2019 / 12:06 AM / a month ago

Japan March core machinery orders rise 3.8% month-on-month

FILE PHOTO: Cranes are pictured against the sunset at construction site in the Toyosu district in Tokyo, February 12, 2015. REUTERS/Thomas Peter/File Photo

TOKYO (Reuters) - Japan’s core machinery orders rose 3.8% in March from the previous month, government data showed on Wednesday.

The result beat the median estimate of a 0.7% decline in a Reuters poll of economists.

Compared with a year earlier, core orders, a highly volatile data series regarded as a leading indicator of capital spending, declined 0.7% in March.

Manufacturers surveyed by the Cabinet Office forecast core orders would rise 15.7% in April-June, after falling 3.2% in the previous quarter.

Reporting by Stanley White; Editing by Chris Gallagher

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