Japan June Core Machinery Orders Down 8.8 Pct

August 9, 2018

Tokyo- Japan's seasonally adjusted core machinery orders in June fell 8.8 pct from the previous month, the Cabinet Office said Thursday.

Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, came to 827.6 billion yen.

The June result, which followed a 3.7 pct decrease in May, compared with the median estimate of a 0.9 pct decline by 18 economic research institutes surveyed by Jiji Press. Their estimates ranged from a fall of 6.5 pct to a rise of 5.3 pct.

Core machinery orders for April-June expanded 2.2 pct from the previous quarter to 2,678.6 billion yen. In July-September, core orders are projected to decline 0.3 pct. Jiji Press