Reported 8 months ago
Japan's core machinery orders dropped by 2.9% in April, following a 19.4% gain by manufacturers and an 11.3% decline by non-manufacturers in March. The decline, the first in three months, raised concerns about capital spending. Despite the drop, the Cabinet Office stated that capital spending is still on track for a recovery, with signs of improvement in core orders due to demands related to inbound tourism and rising wages. External orders, not included in core orders, grew by 21.6% in April. However, Japanese firms are slow to implement big spending plans due to economic uncertainty, exacerbated by struggling overseas economies and a weakening yen.
Source: YAHOO