Core private-sector machinery orders fell a seasonally adjusted 1.6 percent in July from the previous month to 931.5 billion yen, the third monthly drop in a row, the Cabinet Office said Monday.
The three-month decline is a fresh sign that corporate capital outlays are weak and the first time since June 1992 that core private-sector orders have fallen for three consecutive months. The core orders exclude those for ships and from electric power companies, which tend to be volatile because of their large volume.
Compared with the previous year, core private-sector orders dropped an unadjusted 5.1 percent, falling for the second month in a row.