Monday, 12 June 2017

Japan core machinery orders fall more than forecast in sign of economic fragility

Japan's core machinery orders fell more than expected in April, casting doubt on the strength of companies' capital spending and adding to concerns about the country's fragile economic recovery. The 3.1 percent fall in the core orders from a month earlier was much bigger than the 1.3 percent decline expected, potentially dragging on economic growth in the current quarter. It also marked the first drop in three months, following a 1.4 percent increase in March, the Cabinet Office data showed. Though the machinery order data, which excludes ships and orders from the electric power utilities, is highly volatile, it is regarded as an indicator of capital spending in the coming six to nine months. 

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