Japan's core machinery orders probably fell in January from the previous month after surging in December, a poll by journalists showed on Friday. The poll of 28 economists produced a median forecast for a 1.0 percent fall in January core orders compared with December. This category exclude orders for ships and equipment at electric power firms. Forecasts ranged from a fall of 6.0 percent on the month to a rise of 5.0 percent. Core machinery orders rose 8.1 perecent in December from a month earlier. Compared with January last year, orders were seen up a median 10.4 percent.
"We could see orders for telecommunications equipment slowing after recent big increases," said Kensuke Igarashi, an economist at Sumitomo Mitsui Bank, who forecast that January orders would fall 0.9 percent on the month. The data, a highly volatile series but one regarded as a leading gauge of capital spending, will be released on Tuesday, March 9 at 2 p.m. ///