Core private-sector machinery orders fell a seasonally adjusted 4.3 pct in July from the previous month, the Cabinet Office said. The decline was smaller than the market had expected with the consensus forecast of 23 brokerage and research institutes polled by Nihon Keizai Shimbun for a fall of 6.0 pct. All 23 picked a decline, with forecasts ranging from 2.5 pct to 10.5 pct. Year-on-year, core orders in July rose 10.0 pct. In June, core private-sector orders rose 11.1 pct from the previous month and were up 5.4 pct from a year earlier. Core private-sector machinery orders, which exclude volatile orders from electric utilities and for ships, are viewed as a leading indicator of corporate capital spending. Despite weak exports in the past six months, corporate investment spending has remained strong, helping keep Japan's economic recovery on track. Machinery orders placed by the manufacturing sector in July dropped 4.5 pct month-on-month but were up 14.1 pct from a year earlier, the Cabinet Office data showed. Orders placed by non-manufacturers slid 5.1 pct month-on-month but increased 6.9 pct from a year earlier. Public-sector orders fell 2.5 pct month-on-month and were down 17.7 pct from a year earlier. Public-sector orders have been dropping due to a decline in government spending on public works. Foreign orders jumped 20.9 pct from the previous month and were up 11.3 pct year-on-year. Total orders increased 5.5 pct month-on-month and by 7.6 pct from a year earlier. In June, total orders rose 10.7 pct month-on-month and were up 3.5 pct from the year before.