Core machinery orders unexpectedly fell in September from the previous month, government data showed on Monday, although they are expected to grow in the current quarter of the year.
The orders dropped 0.7% in September month-on-month, confounding economists‘ median estimates for a 1.9% rise and down for the second straight month.
On a year-on-year basis, core orders, a highly volatile data series seen as a key gauge of capital spending in the coming six to nine months, decreased 4.8%, versus an expected rise of 2.2%, the Cabinet Office data showed.
By sector, core orders from manufacturers was flat in September from a month ago, while those from nonmanufacturers rose 1.5% in the same period.
The Cabinet Office left its assessment of machinery orders unchanged, saying the recovery was pausing.
At the same time, it expects machinery orders between October and December to rise 5.7% quarter on quarter.