8 August 2003, 09:10  Japan June core machinery orders up 2.4 pct m/m

TOKYO, Aug 8 - Japan's core private-sector machinery orders, a key gauge of trends in capital spending, rose 2.4 percent in June from a month earlier on a seasonally adjusted basis, government data showed on Friday. That was much better than a median forecast for a fall of 3.9 percent in a poll of 25 economists last week. Over the same month last year, orders rose 12.1 percent, also better than a poll forecast of a rise of 5.2 percent, the Cabinet Office said. July-September core orders were forecast to rise 2.2 percent from the previous quarter, it said. 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.

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