Machine orders inched up 3.9%.
According to DBS, growth data finally showed a sign of improvement. November’s machine orders increased more than expected by 3.9% MoM sa.
This came on top of the 2.6% rise in October, and largely offsetting the declines in early-3Q. Thanks to the recent rebound, machine orders have risen to approach the levels in mid-2012 (before the economy slipped into technical recession), albeit still lower than the peak levels seen in 2Q12.
Indeed, the global economic environment is improving thanks to the recovery in China and stabilization in Europe. Domestically, based on the twin easing of fiscal and monetary policies and the depreciation of the JPY, the short-term growth outlook is also turning positive.
Read the rest of the story: Japans economic growth finally makes a rebound.