TOKYO : Japan's core machinery orders rose for a second straight month in November, government data showed on Monday, a sign that corporate appetite for capital spending remained resilient despite pressure from soaring raw material prices.
Core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, grew 3.4per cent in November from October, rising for the second straight month, the Cabinet Office data showed. However, Japanese firms could be cautious about boosting spending due to higher raw material, fuel and transportation costs that are sending wholesale inflation soaring and squeezing corporate margins.
By sector, orders from manufacturers rose 12.9per cent month-on-month, offsetting a 0.8per cent drop in those from non-manufacturers, the data showed.
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