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Financial News: Japan Machine Tool Orders Fall In October

Japan Machine Tool Orders Fall In October

11/10/2022 - 02:51:00 (RTTNews)

(RTTNews) - Japan's machine tool orders declined for the first time in two years in October, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Thursday.

Machine tool orders fell 5.4 percent year-on-year in October, reversing a 4.3 percent rise in September. Further, this was the first decrease since November 2020.

Domestic orders were 11.4 percent lower in October compared to last year, and foreign demand dropped 2.4 percent.

On a monthly basis, machine tool orders declined 6.5 percent in October, in contrast to an 8.3 percent rise in September.

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