Core private-sector machinery orders surged by a record 19.1 percent in March in a sign that many companies brought forward investment outlays ahead of the April 1 consumption tax hike.
The orders rose after a 4.6 percent fall in February, showing the strongest seasonally adjusted monthly increase since comparable data became available in April 2005, the Cabinet Office said. Orders for ships and from utilities were excluded because they are volatile.
The value of the orders, widely regarded as a leading indicator of capital spending, came to ¥936.7 billion, the highest since June 2008, before the collapse of the U.S. housing market triggered the global financial crisis.