Core private-sector machinery orders fell a seasonally adjusted 13.1 percent in January from the previous month as manufacturers including electric machinery firms were reluctant to boost investment, the government said Monday.
The orders, which exclude those for ships and from utilities because of their volatility, slid for the first time in four months to ¥654.4 billion, plunging much faster than market expectations.
The Cabinet Office said machinery orders, regarded as a leading indicator of capital spending, are "showing signs of moderately picking up, but significantly decreased in January."