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Japan machinery orders fall 8.8% on month in February

A man works a weaving machine at the Momotaro Jeans factory in Kojima district on February 25, 2014 in Kurashiki, Japan.
Chris McGrath | Getty Images
A man works a weaving machine at the Momotaro Jeans factory in Kojima district on February 25, 2014 in Kurashiki, Japan.

Japan's core machinery orders fell 8.8 percent on month in February, worse than expectations for a 3 percent decline in a Reuters poll.

The decline follows January's 13.4 percent on-month rise - the fastest gain in nearly a year - casting doubt on the strength of capital spending in Asia's second-largest economy.

On an annual basis machinery orders rose 10.8 percent, below Reuters' expectations for a 17.6 percent on-year rise.

Along with the data release the cabinet office cut its machinery orders assessment noting that the increasing trend in orders is stalling.

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