(MENAFN) According to the Japanese government, the country's core private-sector machinery orders increased a seasonally adjusted 19.1 percent in March on monthly basis, hitting USD6.22 billion, Xinhua reported.
The Cabinet Office said that the orders, which are widely regarded as a leading indicator of capital spending, showed the strongest increase since comparable data became available in April 2005.
In March, orders from the manufacturing sector strongly increased 23. 7 percent compared to the previous month, reaching USD3.787 billion, while those from non-manufacturers increased 8.5 percent to USD5.1 billion.
The Japanese government also upgraded its basic assessment of the orders, saying they are "on a growth trend." Last month, it said the orders were "showing a standstill in their growth trend."
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