TOKYO Japan's core machinery orders rose 4.2 percent in December and companies expect orders to accelerate further in January-March, government data showed on Wednesday, in an encouraging sign that capital expenditure will support economic growth.
The month-on-month rise in core orders, which exclude those of ships and electric power utilities, compared with a 4.7 percent rise forecast by economists. It followed a 14.4 percent decline in November, Cabinet Office data showed.
Companies surveyed expect their core machinery orders to rise 8.6 percent in the January-March quarter, after increasing 4.3 percent in October-December.
Compared with a year earlier, core orders in December fell 3.6 percent, against the median estimate of a 3.1 percent decline.
(Reporting by Stanley White; Editing by Chang-Ran Kim)
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Updated Date: Feb 17, 2016 06:00 AM