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Japan Machine Orders Beat Forecast, Abate Policy Pressure

from Reuters

Japan's core machinery orders, an indicator of future capital spending, rose far more strongly than expected in July, giving some respite to policymakers under pressure to prop up the world's third-largest economy after several weak data. The second consecutive monthly rise in core orders signaled rebuilding in the quake-ravaged northeast was underpinning capital spending, but Europe's debt crisis and slowing Chinese and U.S. economies cloud the outlook. more

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