12/12/2012

Japanese machinery orders reversed two months of decline, rising 2.6% in October, the Cabinet Office reported. The orders are considered a key indicator of near-term prospects for business investment. Exports, however, also remain a key factor for Japan, and "until foreign economies recover ... there won't be any strong pickup in domestic capital expenditure," said Hiroshi Watanabe, a senior economist at SMBC Nikko Securities.

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