Japan's machinery orders posted their biggest single-month fall in six months in August as pressure from a global economic slowdown and a weaker yen that pushes up import costs darken the outlook for corporate spending.
that business confidence at big manufacturers fell to a five-month low, as a double whammy of inflation and slowing global growth hurt the trade-reliant economy.
"What's crucial is that Q3's average machinery orders are so far 1% stronger" than that of the second quarter. The survey pointed to slowing global growth. Overseas orders dropped 18.9% for their biggest tumble since March 2021 and the fourth straight month of declines, highlighting growing concerns about the external environment.
Compared with a year earlier, core orders, which exclude volatile numbers from shipping and electric utilities, rose 9.7% in August, the data found.
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