Japan's machinery orders up in July

CNC
Added On September 12, 2017

Government data showed that Japan's core private-sector machinery orders increased 8 percent on month in July. 
 
It was the first rise in four months, boosted by a recovery in the manufacturing sector and strong demand for train cars.
 
According to the Cabinet Office, the orders, which exclude those for ships and from utilities because of their volatility, came to 853.3 billion yen or 7.9 billion U.S. dollars, 
 
They marked the fastest pace of gain since January last year and followed a 1.9 percent drop in June.
 
Despite the sharp growth, the Cabinet Office retained its assessment that the recovery in machinery orders "came to a standstill." 
 
The machinery orders data are considered as an indicator of capital spending but tend to oscillate.
 
Orders from the manufacturing sector increased 2.9 percent to 355.7 billion yen, lifted by the ship-building and nonferrous metal sectors.