Asia-Pacific News

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

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.