Japan's core machinery orders jump 11% in August

Japan's core machinery orders jumped in August as Japanese manufacturers continue to recover from the earthquake and tsunami. Core machinery orders rose 11% in August, their biggest gain in a year, latest government data showed. The rise in orders comes despite concerns that a global economic slowdown coupled with a strong yen may hurt Japanese manufacturers. The data is a key indicator of capital expenditure trends in Japan. "The data confirms corporate capital spending remains firm and there is little worry about a near-term downturn, since industries such as auto making have steadily increased spending," said Junko Nishioka of RBS Securities in Tokyo.