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Japan machinery orders fall

02-10-2012 13:53 BJT

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A gauge of current and future economic conditions, Japan's core machinery orders fell in December, as a strong yen and worries about slowing global growth cloud the outlook of capital spending in the coming months.

Core machinery orders, which help gauge capital spending, fell 7.1 percent, much deeper than a median market forecast for a 5 percent decline.

However, industry insiders expect orders to rise modestly in the first quarter of this year. They suggest that rebuilding in areas devastated by last year’s earthquake and tsunami could very well contribute a lot to spending.

And some economists also point out that given the state of global economy, it shouldn’t be too surprising that corporations are holding back on capex plans.

 

Editor:Zhang Rui |Source: CNTV.CN

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