June 11, 2014 / 11:56 PM / 5 years ago

Japan April core machinery orders fall 9.1 pct mth/mth

TOKYO, June 12 (Reuters) - Japan's core machinery orders
fell 9.1 percent in April, pulling back after a record jump in
the previous month, government data showed on Thursday.
    The month-on-month decline in core orders, a highly volatile
data series regarded as an indicator of capital spending in the
coming six to nine months, compared with the median estimate of
an 11.9 percent drop in a Reuters poll of economists.
    It followed a 19.1 percent increase in March, the fastest
month-on-month gain in comparable Cabinet Office data available
since fiscal 2005. Analysts have said they expect capital
spending to stay on track for a moderate recovery supported by
positive corporate earnings.
    
    Compared with a year earlier, core orders, which exclude
those of ships and electric power utilities, increased 17.6
percent in April.
    The Cabinet Office maintained its assessment on machinery
orders, saying they are in a rising trend.
    For the full table, please see the Cabinet Office's website:
    here

 (Reporting by Tetsushi Kajimoto; Editing by Chris Gallagher)
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