Japan's core machinery orders rose a seasonally adjusted 10.1 percent

[MikeLigalig.com]

Japan's core machinery orders rose a seasonally adjusted 10.1 percent in August from a month earlier to 843.5 billion yen (10.3 billion U.S. dollars), the Cabinet Office said in a report on Wednesday.

August's figure, which far exceeded market expectations, marks the third straight month of growth, the government report said, despite concern being voiced over the impact of the yen's strength on corporate spending.

Economists had predicted a 4.5 percent decrease in August on month of core machinery orders, which excludes volatile orders from ship builders and power companies.

Core orders, a closely watched leading indicator of capital spending in Japan, had previously risen 8.8 percent in July.

Compared to a year earlier, core machinery orders rose 24.1 percent in the recording period.

Overall machinery orders climbed 9.8 percent in August, the Cabinet Office said. (PNA/Xinhua)