Japan's Machinery Orders Rise in October

TOKYO (Reuters) – Japan's core machinery orders rose 2.1% in October from the previous month, according to government data released on Monday.

This increase contrasts with economists' expectations of a 1.2% rise in a Reuters poll.

On a year-on-year basis, core orders — a highly volatile data series seen as a leading indicator of capital spending for the next six to nine months — grew 5.6%, significantly above the forecasted 0.7% uptick, as reported by the Cabinet Office.

By sector, core orders from manufacturers surged 12.5% month-on-month in October, while those from non-manufacturers saw a decline of 1.2% during the same period.

The Cabinet Office maintained its assessment of machinery orders for October, indicating that a recovery is currently pausing.