Japan machinery orders grow for 2nd month
A key measure of capital spending in Japan has risen for the second month in a row. Private-sector machinery orders grew in November, prompting officials to upgrade their assessment for the first time in six months.
The Cabinet Office said on Monday that major machinery makers received nearly 7.9 billion dollars' worth of orders from domestic firms, a gain of 3.4 percent in yen terms from October.
The figure is a key indicator of corporate investment. It excludes orders for ships and electric utilities because they fluctuate widely.
Orders in the manufacturing sector rose 12.9 percent from the previous month thanks to higher demand for engines from shipbuilders. Electronics firms also needed more chip-making devices.
https://www3.nhk.or.jp/nhkworld/en/news/20220117_23/