Japan Machine Tool Orders Grow For Third Month
Japan’s machine tool orders grew for a third straight month and at a solid pace in January, preliminary data from the Japan Machine Tool Builders’ Association showed on Tuesday.
Machine tool orders increased 9.7 percent year-on-year after a 9.9 percent rise in December and an 8.6 percent growth in November.
The latest growth was led by a 21.6 percent surge in foreign demand. Domestic orders shrunk 10.9 percent.
On a month-on-month basis, machine tool orders decreased 10.5 percent in January. Both domestic and foreign demand declined.
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