Japan's core machinery orders rose for a second straight month in November, government data showed Monday, a sign that corporate appetite for capital spending remained resilient despite pressure from soaring raw material prices.
The gain in core orders, a key indicator of capital expenditure, could be a relief to policymakers hoping for corporate investment to trigger a private demand-led recovery in the world's third-largest economy.
Core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, grew 3.4% in November from October, rising for the second straight month, the Cabinet Office data showed.