Japan core machinery orders growth falls short of expectations

Japan’s core machinery orders rose below market expectations. According to data from the Japanese Cabinet Office, core machinery orders rose 1.6 percent in December from the previous month. Analysts had expected a 3.0 percent increase. Core machinery orders, which are considered a leading indicator of capital spending for the next 6-9 months, fell 6.6 percent on an annual basis. Markets had expected the decline to widen to 6.0 percent from 3.7 percent the previous month.