Japan's machinery orders increase 5 pct in October

TOKYO, Dec. 13 (Xinhua) -- Japan's core private-sector machinery orders increased 5.0 percent in October from a month earlier, the government said in a report on Wednesday.

According to the Cabinet Office, core private-sector machinery orders totaled 850.9 billion yen (7.49 billion U.S. dollars), in the recording period.

The orders, which exclude those for ships and from utilities because of their volatility, are widely viewed as an indicator of future capital spending by companies.

The Japanese government uses the machinery orders data to predict the strength of business spending in a six to nine month period ahead.

Such business investment accounts for around 15 percent of Japan's gross domestic product.