(MENAFN) Japan has witnessed a 5.7 percent drop in its core machinery orders during August when compared to July, marking a three consecutive months of declining, based on latest reports.
Core private-sector machinery orders, which exclude volatile categories such as ships, dropped to USD6.3 billion in the cited period, thus being the latest sign for the nation's economic trouble.
This unfortunate turmoil can be primarily attributed to the sluggish spending and slow economic growth in China, Japan's biggest trading partner, among other secondary factors.
Furthermore, this situation calls for the urgency of a supplementary budget, focusing on the real income shortage of mid- and low-income households, as the prime minister described it.
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