TOKYO, July 8 - Japan's core private-sector machinery orders, a key gauge of trends in capital spending, rose 6.5 percent in May from a month earlier on a seasonally adjusted basis, government data showed on Tuesday. That compared with a median forecast for a fall of 1.3 percent in a poll of 22 economists last week.
Over the same month last year, orders rose 12.2 percent, compared to a poll forecast of a rise of 4.0 percent. Core machinery orders had declined 1.8 percent in April over the previous month. The core orders, which exclude those for ships and equipment at electric power firms, are regarded as a leading indicator of capital spending in the coming six to nine months, although the data tends to be volatile.//