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Japan's May machinery orders rise for 3rd straight month

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Japan's May machinery orders rise for 3rd straight month



Japan's core machinery orders rose for เว็บสล็อต xo the third straight month in May, a welcome sign for an economy struggling to overcome the hit from the coronavirus pandemic.


The government imposed a new state of emergency in Tokyo that will run through to Aug. 22 in an attempt to control the health crisis, clouding the outlook for the economy even as activity in many other countries rebounds.


The jump in core orders indicates a modest revival in corporate spending, seen by policymakers as necessary to accelerate Japan's tepid recovery.


Core machinery orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, jumped 7.8per cent in May from the previous month, beating a 2.6per cent expansion forecast by economists in a Reuters poll and compared with a rise of 0.6per cent in April.


"The data confirmed a recovery in capital spending by manufacturers," said Atsushi Takeda, chief economist at Itochu Economic Research Institute.


"But while non-manufacturers saw quite a big rebound in orders, their starting point was different. They haven't seen a recovery in conditions yet."


By sector, orders from manufacturers grew 2.8per cent, boosted by electrical machinery, helped by demand for such investments due to a global semiconductor supply shortage.


Those from non-manufacturers rose 10.0per cent, rebounding from the prior month's sharp decline, led by other non-manufacturers and telecommunications, which saw orders rise for the first time in six months, the Cabinet Office data showed on Monday.

Topic starter Posted : 12/07/2021 9:23 am