Japan's machinery orders jump 10%
Japan's machinery orders unexpectedly jumped in August marking the third straight month of growth, the Japanese cabinet office has said.
Core machinery orders, a closely-watched indicator of future business investment, rose 10.1% in August to 843.5bn yen ($10.3bn; £6.5bn).
The result was far better than the 4% drop economists had predicted.
But the cabinet office parliamentary secretary Takashi Wada urged caution on the strength of the recovery.
"It's too early to characterise the overall development as a positive cycle," he said.
"But private demand is showing unexpectedly stronger resilience."
However, overseas demand, an indicator of prospects for Japanese exports, fell 3.7% in its first decline for four months.
"If [overseas demand] stays at the current level, it should not have a significant macroeconomic impact," Mr Wada said.
