This can mean only one thing -- Japan is building an army of robots.
Surprise gain in Japan's machinery orders points to solid business investment
Japan’s machinery orders unexpectedly rose for a third straight month in April, in a sign business investment is holding up even as an intensifying Sino-U.S. trade war and global slowdown pile pressure on the country’s export sector. Cabinet Office data released on Wednesday showed core machinery orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, increased 5.2% in April from the previous month. The reading compared with economists’ median estimate of a 0.8% decline in a Reuters poll, and a 3.8% rise in March. Capital spending has been a bright spot in ... (full story)