Core Machinery Orders in Japan Fall 1.4% in October

Japan's core private-sector machinery orders, a leading indicator of corporate capital spending, fell 1.4% in October from the previous month, official data showed on Dec. 8.

The figures, which exclude particularly volatile demand from power companies and for ships, followed a 10.3% fall in September, the Cabinet Office said.

The drop was bigger than market expectations of a 0.1% fall.

Orders from the manufacturing sector rose 1.4% in October, compared with a 20.7% fall in the previous month, while orders from non-manufacturers tumbled 8.7%.

Core orders are expected to fall 9.8% in the October-December quarter, reversing a 9.6% rise in July-September.

Copyright Agence France-Presse, 2010