Financial News: Japan Machine Tool Orders Plunge 14.4%

Japan Machine Tool Orders Plunge 14.4%

05/15/2023 - 03:32:00 (RTTNews)

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

Machine tool orders plunged 14.4 percent year-on-year in April, slightly slower than the 15.2 percent fall in the previous month.

Domestic demand was 21.2 percent lower in April compared to last year, and foreign orders contracted 10.9 percent.

On a monthly basis, machine tool orders fell 5.9 percent in April, reversing a 13.6 percent gain in the prior month.

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