Japan machinery orders up, capex recovery expected

Japan’s machinery orders rose in February at the fastest pace in since mid-2011 in a sign that capital expenditure could pick up this year as business confidence is boosted by government and central bank efforts to end deflation.

Core machinery orders, which help to gauge the strength of capital spending, rose 7.5 per cent in February from January, data from the Cabinet Office showed, stronger than the median estimate of 6.8 per cent in a Reuters poll.

via Business feed http://www.scmp.com/business/economy/article/1212076/japan-machinery-orders-capex-recovery-expected