Japan's core machinery orders fall 7.6% in June​

Men work near a crane at a construction site in Tokyo, Japan, January 14, 2016. REUTERS/Toru Hanai

TOKYO (Reuters) - Japan's core machinery orders fell 7.6% in June from the previous month, government data showed on Wednesday, dashing hopes the economy will emerge from the devastation caused by the coronavirus pandemic.

The decrease in core orders, a highly volatile data series regarded as an indicator of capital spending in the coming six to nine months, compared with a 2.0% gain forecast by economists in a Reuters poll, the Cabinet Office data showed.

Compared with a year earlier, core orders, which exclude those for ships and electricity, were down 22.5% in June, versus a 17.6% drop seen by economists, it showed.