Core private-sector machinery orders gained for the second month in a row in July, prompting the government on Monday to upgrade its basic assessment of the key indicator for the first time in nine months.
The orders, widely taken as a leading indicator of future capital spending, rose 4.9 percent to ¥891.9 billion, due partly to robust orders from the nonmanufacturing sector, following an 8.3 percent jump in June, the Cabinet Office said.
Core machinery orders "have shown movements of picking up," the office said. Last month, it said they were "at a standstill."