2010.07.0721:26:00UTC+00Japan May Core Machinery Orders -9.1% On Month

Core machinery orders in Japan plunged a seasonally adjusted 9.1 percent in May compared to the previous month, the Cabinet Office said on Thursday - sharply below expectations for a 3.0 percent monthly decline after collecting 4.0 percent in April.

Core manufacturing orders were down 6.0 percent on month, while government orders plummeted 26.8 percent, overseas orders added 2.7 percent and orders from agencies declined 17.9 percent.

Total machine orders, including volatile ones for ships and electric power companies, were down 10.8 percent on month.

On an annual basis, core machinery orders were up 4.3 percent - again below forecasts for a 10.8 percent gain after collecting 9.4 percent in the previous month.

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