Japan Core Machinery Rise

Japan's core machinery orders rose 7.7 percent in June from the previous month, up for the 

second straight month, in a sign corporate capital spending will pick up pace as the economy

 recovers from a slump caused by the devastating earthquake in March.

The rise in core orders, a highly volatile data series regarded as an indicator of capital spending 

in the coming six to nine months, was much bigger than the median market forecast for a 1.8 

percent increase.

Manufacturers surveyed by the Cabinet Office forecast that core orders, which exclude those 

for ships and machinery at electric power firms, will rise 0.9 percent in July-September from

 the previous quarter.