Bank lending failed to pick up in November even after machinery orders rose at twice the pace forecast by economists, suggesting companies may continue to shun debt for financing expansion.
Loans excluding trusts climbed 0.7 percent from a year earlier, gaining at the same pace as in the previous two months, the Bank of Japan said Monday. Lending by the 10 so-called city banks, including Mitsubishi UFJ Financial Group Inc. and Mizuho Financial Group Inc., contracted 0.8 percent from a year earlier, the eighth straight month of declines.
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