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Japan Machine Orders at Highest in 2 Years Add to Rebound Signs
Japan’s machinery orders climbed to the highest in two years in November, adding to signs that the economy was rebounding in the final quarter of last year before the omicron variant emerged. Core machine orders, a leading indicator of capital investment, rose 3.4% from the previous month to 900.3 billion yen ($7.9 billion), the highest level since November 2019, a month after a sales tax increase, according to figures from the Cabinet Office. The monthly gain was almost three times the 1.2% gain forecast by analysts. Orders increased 11.6% from year-earlier levels. The gain suggests capital investment was picking ... (full story)