Japan machinery orders turn down in August as China slows, Europe woes
October 12, 2012, 1:58 pm TWN
TOKYO -- Japan's core machinery orders turned down 3.3 percent on-month in August, official data showed Thursday as Europe's debt crisis and China's slowdown cut into the export-reliant manufacturing industry.
The private-sector data excluding volatile orders from power companies and for ships registered the first drop in three months and reversed a 4.6-percent jump in July, according to figures from the Cabinet Office. The fall was also worse than a median forecast of a 2.4-percent decline in a poll of economists surveyed by Dow Jones Newswires and the Nikkei economic daily.