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Japan Machinery Orders Slide 3.3 Percent as Economy Risks Shrinking

from Bloomberg

Japan's machinery orders fell more than expected in August, a sign that companies will cut back spending as global demand slows. Orders, an indicator of capital spending in three to six months, declined 3.3 percent after rising 4.6 percent in July, the Cabinet Office said today in Tokyo. The median of 26 estimates in a Bloomberg News survey was for a 2.3 percent drop. This data follows government reports showing declines in industrial output and exports, underscoring the risk of a contraction in gross domestic product. more

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