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  HOME | Business & Economy (Click here for more)

Japanís Core Machinery Orders Grow 3.4%

TOKYO Ė Japanís machinery orders grew 3.4 percent in August compared to the previous month to stand at 882.4 trillion yen ($7.86 billion), the government said on Wednesday.

The rise, which excludes ships and power stations due to their extreme volatility, is lower than the increase in July, when machinery orders grew 8 percent compared to June.

In the manufacturing sector, orders from the iron and steel sector grew 83 percent while those from the ceramic and stone sector rose 62.4 percent, according to data released by the Cabinet Office.

Petroleum and coal companies reduced their orders by 22.5 percent and transport equipment companies by 14 percent.

In the non-manufacturing sector, goods leasing companies increased their orders by 30.2 percent while those from transportation and postal activities fell 36.3 percent.

Core machinery orders are considered an indicator of fixed capital spending by Japanese companies in the coming six to nine months.

 

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