Core private-sector machinery orders in Japan shrank a seasonally adjusted 1.1 percent in April from March, marking the fourth consecutive month of decline, the Economic Planning Agency said Thursday.
The EPA, however, retained its assessment from the previous month that the basic trend in machinery orders, which do not include orders for ships or from power companies, is showing a continuous recovery.
Core private-sector machinery orders -- totaling 900.4 billion yen in April -- are considered indicative of corporate capital spending trends six to nine months ahead. Firms typically start installing ordered machinery within that time frame.