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Japan Machine Tool Order Decline Slows Slightly In July

Japanese machine tool orders continued to fall at a sharp rate in July, though the pace of decline eased slightly from June, data from the Japan Machine Tool Builders' Association, or JMTBA, showed on Tuesday.

Machine tool orders fell 33 percent year-on-year in July after a 37.9 percent slump in June. Orders have been falling since September 2018.

Domestic orders shrunk 38.9 percent annually and foreign demand decreased 28.2 percent.

Month-on-month, machine tool orders grew 2.4 percent in July.

On a year-to-date basis, machine tool orders fell 29.8 percent in July.

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