Japan core private sector machinery orders sink 11% in November

Japan's private sector machinery orders contracted in November, the Cabinet Office reported Sunday.

The total value of seasonally adjusted machinery orders received by 280 manufacturers in Japan increased by 8.5% month-on-month in November from a 6.8% decline in October.

However, machinery orders in the private sector fell 7.2% in November following a 2.3% increase in October. The latest reading marked the first drop recorded since August.

Excluding volatile orders for ships and from electric power companies, private sector machinery orders declined 11% in November from a 7.0% increase in the previous month.

The figure surpassing the 5.1% decrease that was expected according to the consensus forecast from FXStreet.

The aforementioned figures are compiled using responses to a survey of Japanese manufacturers carried out by Japan's Cabinet Office each month.