Corporate Recovery Increases Japan's Machinery Orders

A recovery in corporate profits may be encouraging Japanese firms to start spending on plant and equipment as orders for machinery rose 10.5% in September, reveals Bloomberg.

 

Citing figures from the Cabinet Office, Bloomberg says that orders, an indicator of business investment in three to six months, climbed 10.5% from a month earlier.

 

“The bottom is probably behind us for capital spending,” Masamichi Adachi, a senior economist at JPMorgan Chase & Co. in Tokyo, told Bloomberg. “The retrenchment phase is over and the corporate sector as a whole should gradually pick up in a self-sustained way.”

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