Japan’s core private-sector machinery orders fall 5.4 pc

13th March, 2019 09:36:56 printer

TOKYO: Core private-sector machinery orders in Japan declined in January from a month earlier, the government said in a report on Wednesday.

According to the Cabinet Office, orders in the recording month fell 5.4 percent from the previous month, with the total orders, excluding those for ships and from utilities because of their volatility, coming to 822.3 billion yen (7.4 billion U.S. dollars), reports Xinhua.

The latest reading follows a 0.3-percent retreat the previous month, the Cabinet Office's data showed.

Machinery orders are a key advance indicator for corporate capital spending and the government uses the data to predict the strength of business spending in a six to nine month period ahead.