Japan's core machinery orders fell 12.5% in December from the previous mont...
FILE PHOTO: Heavy machinery is seen next to a subway train at a construction site in Tokyo, Japan, March 13, 2016. REUTERS/Yuya Shino
TOKYO - Japan’s core machinery orders fell 12.5% in December from the previous month, dropping more than expected, government data showed on Wednesday. The month-on-month fall in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, compared with the median estimate of a 9.0% decline in a Reuters poll of economists.
Manufacturers surveyed by the Cabinet Office forecast that core orders will fall 5.2% in January-March, after declining 2.1% in the previous quarter. Compared with a year earlier, core orders, which exclude those of ships and electricity, slipped 3.5% in December, versus a 1.3% drop seen by economists.
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