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Japan Machinery Orders Fall More Than Expected in April

12 Jun 2017 12:05 am
   By Yoko Kubota 

TOKYO--Japanese core machinery orders fell in April for the first time in three months, the government said Monday, as a slowdown in construction and public sector investment outweighed solid demand for semiconductor production equipment.

Core machinery orders, a leading indicator of business investment, decreased 3.1% from the previous month, following a 1.4% rise in March, the Cabinet Office said. The result compares with a 1.0% drop expected by economists surveyed by the Nikkei. On a year-on-year basis, core orders rose 2.7%.

The government stuck with its assessment of the overall trend, saying a recovery in orders was on hold.

In recent months, Japanese exporters have been buoyed by strong global demand for high-tech items and by stable manufacturing activities in U.S. and China, though their growth trajectory may be slowing. In May, a U.S. gauge of manufacturing inched ahead while in China, private and public gauges offered a mixed picture of the country's manufacturing activity.

Write to Yoko Kubota at yoko.kubota@wsj.com.

(END) Dow Jones Newswires

June 11, 2017 20:05 ET (00:05 GMT)

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