Core private-sector machinery orders rose a seasonally adjusted 8.2 percent in August from the previous month to 1.096 trillion, yen the highest level in nearly five years, reflecting high corporate profits and strong demand for future investment, the Cabinet Office said Tuesday.
Although the rise follows a 4.3 percent drop in July, the government nevertheless revised upward its assessment of the key gauge, citing an uptrend in year-on-year numbers.
The latest figures represent an unadjusted 13.4 percent increase from a year earlier, the third straight year-on-year increase. The level of machinery orders was the highest since October 2000, when the figure stood at 1.103 trillion yen.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.