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Financial News: Japan Machine Tool Order Growth Slows Further

Japan Machine Tool Order Growth Slows Further

07/11/2022 - 04:56:00 (RTTNews)

(RTTNews) - Japan's machine tool order growth eased for the fifth straight month in June, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Monday.

Machine tool orders grew 17.1 percent year-on-year in June, slower than the 23.7 percent rise in May. Orders have been increasing since November 2020.

Domestic orders were 31.3 percent higher in June compared to last year, and foreign demand rose 9.9 percent.

On a monthly basis, machine tool orders rose 0.9 percent in June, reversing a 1.1 percent fall in May.

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