Japan core machinery orders drop in June
Tokyo
JAPAN'S core machinery orders unexpectedly fell for a third consecutive month in June, underscoring companies' reluctance to boost spending and conflicting with recent signs that the economic recovery is gathering momentum.
Core orders suffered a second straight quarter of decline in the April-June period, the first instance of consecutive quarterly falls since 2012. This casts doubt on policymakers' optimism that brightening business sentiment will drive up capital expenditure ahead.
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