TOKYO, July 9 (Reuters) - Japan’s core machinery orders rose 1.7% in May from the previous month, government data showed on Thursday.
The rise in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, compared with a 5.4% drop forecast by economists in a Reuters poll, the Cabinet Office data showed.
Compared with a year earlier, core orders, which exclude those for ships and electricity, decreased 16.3% in May, versus a 17.1% drop seen by economists, it showed.
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here (Reporting by Leika Kihara; Editing by Chris Gallagher)