Japan's core private-sector machinery orders dropped 2.0% in January from December for the first decline in five months, falling back after increases in orders from both manufacturers and nonmanufacturers the previous month, government data showed Thursday.
The orders, which exclude those for ships and from electricity utilities due to their volatility, totaled ¥899.6 billion ($7.6 billion), according to the Cabinet Office.
Despite the fall, the office kept its assessment unchanged that machinery orders, seen as a leading indicator of corporate capital spending, were "picking up," after an upgrade in December.