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Japan Oct core machinery orders fall 6.0% month-on-month

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Japan's core machinery orders unexpectedly fell 6.0 per cent month-on-month in October, down for the fourth straight month, government data showed on Thursday.

[TOKYO] Japan's core machinery orders unexpectedly fell 6.0 per cent month-on-month in October, down for the fourth straight month, government data showed on Thursday.

The fall 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 a 0.9 per cent rise in a Reuters poll of economists.

Compared with a year earlier, core orders, which exclude those of ships and electricity, fell 6.1 per cent in October, versus a 1.8 per cent drop seen by economists, the Cabinet Office data showed.

REUTERS