Japan's Dec machinery orders dip 11.9% - worst in 3 years

Tokyo

JAPAN'S core machinery orders tumbled in December at the fastest pace in more than three years, and companies expect orders to rise only marginally in January-March, raising concerns that recent gains in capital expenditure may taper off.

The 11.9 per cent decline in December core orders, the largest fall since May 2014, was more than the median estimate of a 2.3 per cent fall and followed a 5.7 per cent increase in November.