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Japan Sept. Core Machinery Orders Down 2.9 Pct

Japan Sept. Core Machinery Orders Down 2.9 Pct

   Tokyo, Nov. 11 (Jiji Press)--Japan's seasonally adjusted core machinery orders in September fell 2.9 pct from the previous month, down for the third straight month, the Cabinet Office said Monday.
   Private-sector orders excluding those for ships and power equipment, closely watched as a leading indicator of corporate capital spending, came to 850.2 billion yen.
   The September result, which followed a 2.4 pct decrease in August, compared with the median estimate of a 0.9 pct rise among 17 economic research institutes surveyed by Jiji Press. Their estimates ranged from a 9.5 pct drop to a 3.0 pct rise.
   Core machinery orders in July-September shrank 3.5 pct from the previous quarter to 2,622.3 billion yen. In October-December, core orders are projected to grow 3.5 pct to 2,713 billion yen.

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