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Financial News: Japan Machine Tool Orders Decline Slows Slightly

Japan Machine Tool Orders Decline Slows Slightly

09/09/2020 - 04:17:00 (RTTNews)

(RTTNews) - Japan's machine tool orders continued to fall at a sharp rate in August, albeit at a slower pace, preliminary data from the Japan Machine Tool Builders' Association showed on Wednesday. Machine tool orders decreased 23.3 percent year-on-year following a 31.1 percent slump in July. The pace of decline slowed for a third straight month after a 52.8 percent crash in May. In August, domestic demand decreased 38.6 percent and foreign orders shrunk 12 percent. On a month-on-month basis, machine tool orders fell 2.7 percent in August.

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