Japan’s key machinery orders go up

Japan’s key machinery orders climbed 3.4 percent in January, marking the first increase in two months, government data showed Monday.

The orders of private-sector machinery, which exclude those for ships and from utilities due to their volatility, rose to 757.8 billion yen (about $9.21 billion), the government said.

The reading, following a drop of 7.1 percent in December, beat the average market forecast of around 2 percent growth, reported Xinhua.

Electrical machinery manufacturers saw orders grow 31.1 percent while carmakers and car parts manufacturers logged a 12.4 percent expansion.

Core orders are widely seen as an indicator for future corporate capital spending.