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Japan Machine Orders Slump Most Since 2008 as Recovery Slows

Japanese machinery orders fell the most since August 2008, a sign that any rebound in business investment may be too weak to drive an economic recovery that is showing signs of losing momentum.

Orders, an indicator of future capital spending, slid 9.1 percent in May from April, the Cabinet Office said today in Tokyo. It was the first decline in three months, and exceeded the median 3 percent drop in a Bloomberg News survey.