Japan Feb. machinery orders: Ideas later.

Japan's Feb. machinery orders jump 13.6% on month

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TOKYO (Kyodo) -- Japan's core private-sector machinery orders rose 13.6 percent in February from the previous month, driven by large-scale projects in the nuclear power sector, government data showed Wednesday.

The orders, which exclude those for ships and from electricity utilities due to their volatility, totaled 1.1 trillion yen ($7 billion), a record high surpassing the previous peak set in January 2008, according to the Cabinet Office.

An official of the office attributed the rise to orders for equipment including turbines for several large-scale nuclear power projects, while adding the office maintained its assessment that machinery orders, a leading indicator of corporate capital spending, were showing signs of picking up.

The official said the impact of U.S. and Israeli attacks on Iran, which began at the end of February, was largely not reflected in the data for the month.

Machinery orders from the manufacturing sector surged 30.7 percent to 569.5 billion yen, while those from non manufacturers rose 0.9 percent to 568.4 billion yen.

Nonferrous metals and other non manufacturing sectors saw strong growth, while orders related to automobiles and auto parts also recovered, the official said.

Total orders including those from the public sector as well as for ships and electricity utilities fell 5.0 percent from the previous month.

Article source:   https://mainichi.jp/english/articles/20260415/p2g/00m/0bu/025000c