Japan's Machinery Orders Plunge 16.2 Pct in November

Japan's core private-sector machinery orders plunged by 16.2 percent month-on-month on a seasonally adjusted basis to 754.2 billion yen (8.47 billion U.S. dollars) in November 2008, the cabinet office said Thursday.

On an unadjusted basis, the figure, which is widely regarded as a leading indicator for corporate capital spending some six months ahead, suffered a 27.7 percent year-on-year decline, said the government body.

The core private-sector machinery orders do not include those from large-sized ships and electric power companies as they tend to vary widely.

Source: CRIEnglish