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1st LD Writehthru: Japan's core machinery orders in Jan. down 1.7 pct on month

Xinhua, March 11, 2015 Adjust font size:

Japan's core machinery orders in January fell a seasonally-adjusted 1.7 percent on month to 838.9 billion yen (about 6.92 billion U.S. dollars), government data showed Wednesday.

The orders, widely regarded as a leading indicator of capital spending, dropped for the first time in three months following a seasonally adjusted 8.3 percent gain the previous month.

The government left unchanged its basic assessment of core machinery orders, saying they have "shown signs of a moderate pickup," after upgrading its view in December.

In the reporting period, orders from the manufacturing sector plunged 11.3 percent to 351.8 billion yen, while those from nonmanufacturers increased 3.7 percent to 494.5 billion yen.

Overseas demand for Japanese machinery, an indicator of future exports, rose for the first time in five months, up 24.2 percent to 990.6 billion yen. Endi