By Michael Kitchen
LOS ANGELES (MarketWatch) -- Japan's much-watched core machinery orders rose far less than anticipated in December, though wholesale prices for the nation showed a healthy rise, according to data released Thursday. Core machinery orders for December, which strip out volatile ship and utility orders, rose 1.7% from November, the Cabinet Office said. The result missed a 5.3% increase tipped by a Dow Jones Newswires survey of economists, but showed a recovery from November's 3% drop. The data set can swing wildly from month to month but is seen as an important leading indicator for capital spending in Japan. Meanwhile, the Bank of Japan said its corporate goods price index rose 1.6% in January from a year earlier, beating a Dow Jones Newswires survey forecast of 1.4% and December's 1.2% rise. Japan has long struggled with deflation, and rising prices are generally considered positive for the economy.
