The value of core machine orders in Japan was down a seasonally adjusted 8.5 percent on month in February, the Cabinet Office said on Wednesday – coming in at 769.8 billion yen.

That badly missed expectations for an increase of 2.8 percent following the 4.5 percent decline in January.

On a yearly basis, core machine orders sank 7.1 percent – again missing forecasts for an increase of 2.3 percent following the 1.5 percent gain in the previous month.

The total value of machinery orders received by 280 manufacturers operating in Japan increased by 26.4 percent on month in February.

The material has been provided by InstaForex Company – www.instaforex.com

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