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Financial News: Japan Machine Tool Orders Fall 8.0%

Japan Machine Tool Orders Fall 8.0%

03/11/2024 - 03:50:00 (RTTNews)

(RTTNews) - Japan's machine tool orders declined for the fourteenth straight month in February, largely due to weak domestic demand, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Monday.

Machine tool orders fell 8.0 percent year-on-year in February, which was slower than the 14.0 percent double-digit decline in the previous month.

Domestic demand was 16.5 percent lower in February compared to last year, and foreign orders contracted by 4.1 percent.

On a monthly basis, machine tool orders rebounded 2.9 percent in February, reversing a 12.7 percent plunge in the prior month.

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