TOKYO Ė Machinery orders in Japan rose 5 percent in October compared to the previous month, reaching 850,900 million yen ($7.49 billion), the Japanese Government announced on Wednesday.
The rise of this indicator, which excludes orders of power plants and shipyards due to their excessive volatility, contrasts with the 8.1 percent month-on-month decline recorded in September, according to data published by the Cabinet Office.
In the manufacturing sector, the October rise of oil and coal machinery (88.9 percent) and ceramic, stone and clay products (82.1 percent) is noteworthy, while more pronounced falls were recorded among non-ferrous metals (76.7 percent), transport equipment (36.7 percent) and metal products (30.5 percent).
In the non-manufacturing sector, the most remarkable increase in orders was seen in the postal services and transport sector, with 26.2 percent, while the most marked drop in orders was in the leasing of goods sector (62.5 percent).
Machinery orders are regarded as an indicator of fixed capital spending of Japanese firms over the next six months.