Japan machinery orders fall 4.5% on month in Jan.

Japan’s core private-sector machinery orders fell 4.5 percent in January from the previous month, government data showed Monday. The orders, which exclude those for ships and from electricity utilities due to their volatility, totaled 841.7 billion yen ($7.7 billion), according to the Cabinet Office. Machinery orders are seen as a leading indicator of capital spending. The first decrease in four months followed an upwardly revised 5.3 percent rise in December.

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HEDGE accordingly