Japan's Machinery Orders down in September

Japan's machinery orders fell in September for the second consecutive month. The orders are considered a leading indicator of future capital spending.

    Government officials changed their assessment on machinery orders from "picking up" to "standing still." Officials at the Cabinet Office said that the orders were worth 8 billion dollars. That's down 3.3% in yen terms from August. The figures exclude the shipbuilding and power sectors, which tend to see large fluctuations, according to Japan's (NHK WORLD) radio.

    Economists at the Cabinet Office predict orders for capital investment will remain sluggish during the three months through December. They said that the outlook for the quarter will be down 5.9% from the previous period.