Financial News: Japan Machine Tool Orders Plunge 10.7% On Weak

Japan Machine Tool Orders Plunge 10.7% On Weak Domestic, Foreign Demand

03/09/2023 - 03:42:00 (RTTNews)

(RTTNews) - Japan's machine tool orders declined sharply for the second straight month in February amid lower demand both domestically and internationally, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Thursday.

Machine tool orders declined 10.7 percent year-on-year in February, which was worse than the 9.7 fall in the previous month.

Domestic demand was 20.3 percent lower in February compared to last year, and foreign orders contracted 5.5 percent.

On a monthly basis, machine tool orders decreased 3.9 percent in February, slower than the 8.2 percent fall in the prior month.

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