Japan Machine Orders Fall by Record in Spending Caution Sign
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Japan’s machinery orders fell the most on record in May, suggesting that companies remain cautious about deploying record cash reserves into investment.
Core orders, a leading indicator of capital spending, dropped 19.5 percent from April, the Cabinet Office said today in Tokyo. The slide, the biggest in data back to 1987, was larger than forecast by all 23 economists surveyed by Bloomberg News. The median projection was for a 0.7 percent gain.