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Japan's machinery orders rise sharply, may ease concerns about domestic demand
Japan's key gauge of capital spending grew much stronger than expected in February, rebounding sharply from the prior month's decline in a welcome sign for domestic demand even as the yen's slide against the dollar raises the cost of living. Core machinery orders rose 7.7 per cent in February from the previous month, blowing past a 0.8 per cent increase expected by economists in a Reuters poll and more than recouping a 1.7 per cent fall in January, the Cabinet Office data showed. Compared with a year earlier, core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to ... (full story)