TOKYO - Japan’s core machinery orders unexpectedly rose in August, extending gains and highlighting resilience in capital spending even as the economy remains under pressure from the coronavirus pandemic.
Core machinery orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, grew 0.2% in August after a 6.3% rise in July. However, analysts warn orders may turn negative again in the coming months as firms struggle with excess output capacity. By sector, orders from manufacturers shed 0.6%, while those from non-manufacturers lost 6.9%, the Cabinet Office data showed on Monday.
Separate data on Monday showed lending by regional banks stayed high in September as smaller firms scrambled to meet their immediate funding needs.
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