Japanese Core Machinery Posts Pleasant Surprise
The Japanese economy today received a pleasant surprise when their core machinery orders rose above expectations for the month of July, this is an early sign that a rise in demand was boosting the rate of corporate spending. Data released by the Cabinet office today revealed that the core machinery orders which has proven to be volatile in recent times and has also been termed “the indicator of mid-term capital spending”, grew for the month of July by a seasonally adjusted 4.9% after a higher growth of 8.3% in June.…