Japan October machinery orders rise on strong manufacturing sector
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FILE PHOTO: Workers repair a facility of a chemical factory at the Keihin Industrial Zone in Kawasaki, Japan September 12, 2018. REUTERS/Kim Kyung-Hoon/File Photo
TOKYO (Reuters) - Japan's core machinery orders rose 2.1% in October from the previous month, government data showed on Monday.
That compared with a 1.2% rise expected by economists in a Reuters poll.
On a year-on-year basis, core orders, a highly volatile data series regarded as a leading indicator of capital spending in the coming six to nine months, grew 5.6%, versus a forecast for a 0.7% uptick, the Cabinet Office data showed.
By sector, core orders from manufacturers jumped 12.5% month-on-month in October, while those from non-manufacturers slipped 1.2% in the same month.
The Cabinet Office left its assessment of machinery orders for October unchanged, saying a recovery was pausing.
(Reporting by Satoshi Sugiyama; Editing by Chang-Ran Kim and Muralikumar Anantharaman)
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