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MNI BRIEF: Japan's Machine Orders Post First Rise In 2 Months

MNI (Tokyo)

The Cabinet Office said maintained its assessment that machinery orders are recovering.

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Japan's core machinery orders, which exclude volatile power generation equipment and ships, rose 0.9% on month in July, data released by the Cabinet Office on Wednesday showed, for the first month-on-month rise in two months.

The gain followed a 1.5% dip in June, indicating demand for capital investment remained solid, and supporting the Bank of Japan's view on corporate sector profits of a virtuous cycle and that capex is solid. The Cabinet Office left its assessment for the third straight month that machinery orders showed a sign of recovering.