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Japan Sept core machinery orders fall 2.1 pct mth/mth

Tuesday, 12 Nov 2013 | 6:54 PM ET

TOKYO, Nov 13 (Reuters) - Japan's core machinery orders fell 2.1 percent in September after a hefty gain in the previous month, government data showed on Wednesday, but a recovery in capital spending is seen as largely intact because of rising corporate profits and sentiment. The month-on-month fall in core orders, which exclude those of ships and electric power utilities, compared with a 1.4 percent drop projected by economists in a Reuters poll, and followed a 5.4 percent gain in August, the Cabinet Office data showed. Companies surveyed by the Cabinet Office forecast that core orders will fall 2.1 percent in October-December, after rising 4.3 percent in July-September, which was the second straight quarter of increases. Compared with a year earlier, core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, increased 11.4 percent in September, against a 12.6 percent gain expected. The Cabinet Office maintained its assessment of machinery orders, saying they are picking up. To view full table, click on the Cabinet Office website at:For more background, please see PREVIEW