Japan May core machinery orders fall 3.6 percent from previous month

by Dramelin 6:00 PM 0 comments

Japan`s core machinery orders fell 3.
6 percent in May from the previous month, government data showed on Monday, in a sign capital spending lacks momentum.
The surprise fall in the core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, undershot the 1.
7 percent increase expected by economists in a Reuters poll.
It followed a 3.
1 percent drop in April, Cabinet Office data showed.
Compared with a year earlier, core orders, which exclude ships and orders from electric power utilities, grew 0.
6 percent in May, versus the 7.
7 percent growth expected by economists and the 2.
7 percent rise in April.
To view full table, please see the website of the Cabinet Office.