Core private-sector machinery orders surged by a seasonally adjusted 13.4 percent in January, the second-fastest pace on record, signaling that an economic rebound has prodded companies to boost investment, the government said Thursday.
The orders, excluding those for ships and from utilities because of their volatility, rose to ¥843.5 billion after plunging 15.7 percent in December, the Cabinet Office said.
It was the second-sharpest month-on-month gain seen in the orders, widely regarded as a leading indicator of capital spending, since April 2005, when officials began compiling comparable statistics.