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Japan Machinery Orders Fall More Than Forecast on Exports
Japan’s machinery orders fell more than expected in September as slowing global demand hurts exports, while the nation’s current account surplus narrowed to its lowest level for the month since at least 1985. Orders, an indicator of capital spending in three to six months, declined 4.3 percent from the previous month, the Cabinet Office said today in Tokyo. The median of 29 estimates in a Bloomberg News survey was for a 2.1 percent drop. The excess in the broadest measure of Japan’s trade was 503.6 billion yen ($6.3 billion), compared with a median estimate of 761.8 billion yen, a Finance Ministry report ... (full story)