Tokyo - Japan's core machinery orders hit a three-year low in March to 956.8 billion yen (9.11 billion dollars), compared to February, the government said Thursday. The nation's March private-sector machinery orders fell 8.3 per cent from the previous month, which was weaker than the average market expectation of a 5.1-per-cent drop, the Cabinet Office said.
The machinery orders shrank 6.2 per cent, compared to the same month a year earlier.
Manufacturers expected the orders to decline 10.3 per cent in the April-June quarter from the previous quarter, the office said.
The Cabinet Office revised downward its basic assessment on machinery orders.
Core private-sector machinery orders, excluding those for ships and from electric power companies, are considered as a leading indicator of corporate capital spending.
