Japan’s orders for nuclear machinery fell for the first time in three months in April, government data showed on Monday, reflecting a pullback from the previous month’s big jump, but the cabinet said capital spending remained on track for recovery.
The data followed the Bank of Japan’s decision last week to begin scaling back massive bond purchases, with the central bank set to announce a detailed plan next month to shrink its nearly $5 trillion balance sheet.
Core orders fell 2.9% month-on-month in April, versus a 3.1% decline expected by economists in a Reuters poll, the first decline in three months. It is a highly volatile data series that is considered an indicator of capital expenditure over the next six to nine months.
