Core private-sector machinery orders declined a seasonally adjusted 5.2 pct in March from February, the Cabinet Office said, far worse than market estimates. The market was looking for a decline of 0.1 pct based on a poll by the Nihon Keizai Shimbun, with estimates ranging from a fall of 4.1 pct to a rise of 2.5 pct. Year-on-year, machinery orders were down 1.6 pct in March. In February, machinery orders rose 3.4 pct from the previous month and were up 8.2 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. Machinery orders placed by the manufacturing sector in March declined 5.9 pct month-on-month and were down 1.3 pct from the previous year. Orders placed by nonmanufacturers fell 4.6 pct month-on-month and were off 1.8 pct from a year earlier. Public-sector orders tumbled 12.6 pct from February and were down 8.5 pct from a year before. Foreign orders climbed 16.9 pct from the previous month and surged 74.2 pct year-on-year. Total orders rose 1.5 pct month-on-month and were up 23.6 pct from a year earlier.