Machinery orders fell in November as companies pared spending on plant and equipment in anticipation of the U.S. slowdown spilling across Asia and hurting exports, the Cabinet Office said Wednesday.
Orders declined 2.8 percent from October, when they rose 12.7 percent. The median estimate of 41 economists surveyed by Bloomberg News was for a 4 percent drop.
Bank of Japan Gov. Toshihiko Fukui said Tuesday Japan's export-led economy is slowing amid faltering global growth and record energy prices. Goldman Sachs Group Inc. said last week that there is a 50 percent chance of a recession in Japan, citing concern that exports will cool.