"Japan's economy should have returned to growth in the first quarter and the expansion may continue this quarter"
- Junko Nishioka, chief economist at RBS Securities Japan Ltd.
Japanese core machinery orders rose more than expected in February, a sign the economy is picking up. Orders rose 4.8 per cent from January, said the Cabinet Office on Monday.
"Today's report points to a gradual recovery in capital spending," said Junko Nishioka, chief economist at RBS Securities Japan Ltd. in Tokyo.
"Japan's economy should have returned to growth in the first quarter and the expansion may continue this quarter."
Japanese stock extended losses on Wednesday, after Spanish bond yields rose to record highs.
The Nikkei 225 erased 0.83%, or 79.28 points, to 9,458.74, while the broader Topix lost 0.93%, or 7.59, to 805.84.
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