Core private-sector machinery orders fell a larger-than-expected 11.9 percent in December from the previous month, reversing sharp gains recently supported by economic growth, government data showed Thursday.

The drop, the first in three months and the largest since May 2014, was largely a reflection of the sizable increase in November, the Cabinet Office said. The orders, which exclude those for ships and from utilities because of their volatility, totaled ¥792.6 billion ($7.4 billion).

The fall came after machinery orders, a key indicator of future corporate spending, grew 5.7 percent in November to their highest since June 2008.