The nation's core private-sector machinery orders plunged a seasonally adjusted 11 percent in April from the previous month, the government said Thursday, partly reflecting caution by manufacturers over investment amid a firming yen.
The orders, widely viewed as a leading indicator of future capital spending, totaled ¥796.3 billion, the Cabinet Office said. The orders exclude those for ships and from utilities because of their volatility.
The fall was the largest since May 2014 and worse than the average market forecast of a 3 percent slide.