Japan’s core machinery orders fell 8.8 percent on month in February, worse than expectations for a 3 percent decline in a Reuters poll.
The decline follows January’s 13.4 percent on-month rise – the fastest gain in nearly a year – casting doubt on the strength of capital spending in Asia’s second-largest economy.
On an annual basis machinery orders rose 10.8 percent, below Reuters’ expectations for a 17.6 percent on-year rise.
Along with the data release the cabinet office cut its machinery orders assessment noting that the increasing trend in orders is stalling.
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