Domestic machinery orders rose for a second month in June as companies increased spending to restore businesses and production lines disrupted by the March 11 quake and tsunami.
Factory orders, an indicator of capital spending three to six months in advance, rose 7.7 percent in June from May, the Cabinet Office said Thursday. The median forecast of 27 economists surveyed by Bloomberg News was for a 1.7 percent increase.
The report follows production and export data in recent months suggesting the corporate sector is recovering faster than expected from the March disaster. Still, the data cover the period before the yen climbed toward a postwar high that executives say may force companies to pare profit forecasts or move facilities overseas.