Japan core machinery orders fall more than forecast in sign of economic fragility
* April core orders -3.1 pct m/m vs forecast -1.3 pct * Core orders +2.7 pct yr/yr in April vs forecast +6.3 pct * Capex in gradual pick-up, crucial for virtuous growth * Machinery orders hold firm, centring on manufacturers -govt (Adds government official, detail) By Tetsushi Kajimoto TOKYO, June 12 (Reuters) – Japan’s core machinery orders fell more than expected in April, casting doubt on the strength of companies’ capital spending and adding to concerns about the country’s fragile economic recovery. The 3.1 percent fall in the core orders from a month earlier was much bigger than the 1.3 percent decline expected by economists in a Reuters poll, potentially dragging on economic growth in the current quarter. It also marked the first drop in three months, following a 1.4 percent increase in March, the Cabinet Office data showed.
Source:: https://finance.yahoo.com/news/japan-core-machinery-orders-fall-001624589.html
