Japan machinery orders down as capex struggles

Japan’s core machinery orders fell in April from the previous month, down for the first time in three months as companies remain hesitant to boost capital spending despite Prime Minister Shinzo Abe’s sweeping stimulus policies.

Cabinet Office data showed core machinery orders, a highly volatile series regarded as a leading indicator of capital spending, fell 8.8 per cent, compared with a 8.5 per cent decline in a Reuters poll of analysts.

That followed a 14.2 per cent increase in March, which was the fastest pace of gain in comparable data going back to 2005.

via Business feed http://www.scmp.com/business/economy/article/1259006/japan-machinery-orders-down-capex-struggles