The value of core machinery orders slipped for the second consecutive month in August, suggesting uncertainty over businesses investment and deeper fissures in the broader economy due to slowing global trade.

A highly volatile data point regarded as an indicator of capital spending in the coming six to nine months, core orders fell by 2.4 percent in August from the previous month, Cabinet Office data showed on Thursday.

According to data from Refinitiv, the orders — which exclude those related to shipping and electricity — were down 14.5 percent in August compared to a year earlier in the biggest year-on-year drop since November 2014. The figures have added to concern the world's third-biggest economy may be heading for a recession.