Japan core machinery orders slump in May

NEW YORK (Forex News Now) – Core Japanese machinery orders in May dropped from a month earlier further than forecast, official data showed on Thursday, in a major FX news event.

According to Japan’s Cabinet Office, purchase orders placed with Japanese manufacturers for machines, excluding ships and utilities, slumped 9.1 percent during the month, after a rise of 4 percent in April.

Global forex analysts had expected a slighter decline of 3 percent in May, two major financial news outlets reported.