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Japan’s core machinery orders were unchanged in July from the previous month, the government said on Thursday.
The result fell short of the 2.4-per-cent increase predicted by analysts surveyed by the Nikkei business daily, and followed a 2.7-per-cent fall in June.
Core private-sector machinery orders, which exclude volatile categories such as ships and utilities, were flat at 777.2 billion yen ($7.8 billion), the Cabinet Office said.
The office maintained its basic assessment, saying that machinery orders were “gradually picking up.” The statistic is seen as an indicator of future corporate capital spending.
Overseas demand, an indicator of future exports, edged up 1.4 per cent to 766 billion yen after a 16.7-per-cent fall in June.
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