Core machinery orders plunge 7.1%

Key machinery orders dropped a sharper than expected 7.1 percent in December to ¥733.2 billion, the first decline in two months, affected by weakness in some technology sectors, government data showed. Core private-sector orders, excluding those for ships and from utilities, marked a downturn following a strong 14.8 percent expansion of in November, the data showed Thursday. The seasonally adjusted figure for orders, an indicator of future capital spending by companies, logged a 5 percent fall, also weaker than market forecasts. (Japan Times)