Japan Machine Tool Order Decline Slows Sharply In October
Japan’s machine tool orders decreased for a twenty fifth month in a row in October, but at a sharply slower pace in October, preliminary figures from the Japan Machine Tool Builders’ Association, or JMTBA, showed on Wednesday.
Machine tool orders fell 5.9 percent from the same month last year. In September, orders plunged 15.0 percent.
Domestic demand for machine tools shrunk 13.6 percent annually in October and that from abroad decreased 1.1 percent.
Compared to the previous month, machine tool orders dropped 2.1 percent in October. Bookings had risen 23.7 percent in September, marking the first increase in two months.
In the year-to-date period, orders decreased 32.5 percent compared to the same period last year.
The material has been provided by InstaForex Company – www.instaforex.com