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Japan Machine Tool Order Growth Surges

Japan's machine tool orders rose for a fifth straight month in April and the pace of growth accelerated sharply, figures from the Japan Machine Tool Builders' Association showed Monday.

Machine tool orders grew 120.8 percent year-on-year following a 65.1 percent rise in March.

Domestic demand surged 170.3 percent and foreign orders grew 251.3 percent.

Compared to the previous month, orders decreased 3.1 percent in April after a 21.1 percent increase in February.

Orders in the domestic market fell 11.1 percent, while those for the foreign market grew 0.6 percent.

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