Japanese government cut its assessment of machinery orders for the first time in eight months

Reuters report says, "The Japanese government cut its assessment of machinery orders for the first time in eight months, saying they are stalling in a worrying sign businesses may be turning cautious on investing". The policy makers expect capital spending will revive the economy and pull it out of years of deflation. 

The data released earlier today showed the core orders dropped 3.65 in May, undershooting the 1.7% increase expected by economists in a Reuters poll. Orders from the services sector fell 5.1%, down for a third straight month.