Machinery orders rose for the first time in four months in June and the current-account surplus widened for the latest signs the recession is easing.
Orders climbed 9.7 percent from May, the Cabinet Office said Monday, more than the 2.6 percent expected by economists. The surplus more than doubled from a year earlier to ¥1.15 trillion, expanding for the first time since February 2008 as exports improved.
"We shouldn't be too optimistic about capital spending yet," said Yoshiki Shinke, a senior economist at Dai-ichi Life Research Institute. "Companies are still burdened with excess labor and capacity, and the outlook for the economy is uncertain."