Japan's Core Machinery Orders Down 11.3% in November

A leading indicator of corporate capital spending, Japan's core machinery orders, fell 11.3% in November from the previous month, official data showed on Jan. 14.

The figure was worse than the monthly drop of 4.5% in October and was below market expectations of a small rise.

The core orders, which exclude particularly volatile demand from power companies and for ships, are seen as a key barometer of business investment.

Core orders from manufacturing companies tumbled 18.2% month-on-month in November while those from non-manufacturers fell 10.6%, the Cabinet Office said.

Copyright Agence France-Presse, 2010