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Economy

Japan September core machinery orders fall 2.9%

TOKYO (Reuters) -- Japan's core machinery orders fell 2.9% in September from the previous month, down for a third straight month, Cabinet Office data showed on Monday.

The fall in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, compared with economists' median estimate of a 0.9% increase in a Reuters poll, the data showed.

Manufacturers surveyed by the Cabinet Office forecast that core orders will rise 3.5% in October-December, after a 3.5% decrease in the previous quarter.

Compared with a year earlier, core orders, which exclude those of ships and electricity, grew 5.1% in September, versus a 7.9% year-on-year gain seen by economists in a Reuters poll.

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