The nation's core private-sector machinery orders fell a seasonally adjusted 9.2 percent in February on a plunge for manufacturers, a reversal from the previous month that saw large orders from the steel industry, the government said Monday.
The orders, widely regarded as a leading indicator of future capital spending, totaled ¥848.7 billion ($7.9 billion), excluding those for ships and from utilities due to their volatility.
The Cabinet Office left its basic assessment unchanged, saying machinery orders are showing "signs of picking up."