Japan's May machinery orders rise for 3rd straight month

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Japan's May machinery orders post third straight month of gains

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TOKYO -Japan's core machinery orders rose for the third straight month in May, a welcome sign for an economy struggling to overcome the hit from the coronavirus pandemic.

"The data confirmed a recovery in capital spending by manufacturers," said Atsushi Takeda, chief economist at Itochu Economic Research Institute. Separate Bank of Japan data on Monday showed Japanese wholesale prices rose 5.0per cent in the year to June, a sign global inflationary pressures are weighing on firms that are still facing coronavirus emergency curbs at home.

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