Japan Machinery Orders Rebounded Less Than Forecast in June
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Japan’s machinery orders rebounded less than forecast in June, underscoring concerns the world’s third-largest economy’s recovery will slow in the second half of this year.
Bookings, an indicator of capital spending, rose 5.6 percent, after slumping 14.8 percent in May, the biggest drop in more than a decade, the Cabinet Office said today in Tokyo. The median estimate of 25 economists surveyed by Bloomberg News was for a 12 percent increase. Large-scale orders can cause the results to be volatile.