In Japan, core machinery orders in October fell for the first time in five months, down 6.4% on year. The orders, widely regarded as a leading indicator of capital spending, signals the corporate sector has become cautious about boosting investment after the consumption tax hike from April.
In the reporting period, orders from the manufacturing sector were down 5.5 percent on month to 343.8 billion yen, while those from non-manufacturers declined 7.5 percent to 442.6 billion yen.
The figure issued by the Cabinet Office was far worse than a 2.4 percent fall forecast by economists in a Reuters poll, and followed a 2.9 percent month-on-month gain in September.
Total orders slid 2.9 percent to 2,256.3 billion yen, while overseas demand for overall Japanese machinery, an indicator of future exports, dropped 4.6 percent to 910.9 billion yen, following a 9.4 percent dive in September.
