Japan's machinery orders down 2.8pc in March

TOKYO: Japan's core machinery orders fell 2.8 percent in March from the previous month, official figures showed Wednesday, matching market expectations.

The core private-sector data, which exclude volatile demand from power companies and for ships, turned down after two months of increases, according to the Cabinet Office.

In the January-March quarter, core orders rose by 0.9 percent from the previous quarter. The orders are forecast to increase 2.5 percent in the April-June term, the office said, citing a poll of 280 machinery manufacturers.

The core orders are seen as a leading indicator of corporate capital spending and watched for movements that may reflect the outlook for the broader economy.