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"Japan's economy is likely to hold steady at best in the final quarter of this year"
- Yuichi Kodama, an economist with Meiji Yasuda Life Insurance
Japanese core machinery orders declined more than expected in September, said the Cabinet Office on Thursday. Month on month orders fell 8.2 per cent from August on strong yen and on faltering global economic growth.
"The data signals corporate activity will stagnate towards the year-end given increasing uncertainty about the global economy and as output has already lost upward momentum," said Yuichi Kodama, an economist with Meiji Yasuda Life Insurance.
"Japan's economy is likely to hold steady at best in the final quarter of this year and may contract again after a rebound in the previous quarter, as the government's third supplementary budget for reconstruction hasn't been enacted yet."