Japan Machine Tool Order Growth Slows Further

Japan's machine tool order growth eased for the fourth successive month in May, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Thursday.

Machine tool orders grew 23.7 percent year-on-year in May, slower than the 25.0 percent rise in April. Orders have been increasing since November 2020.

Domestic orders were 49.0 percent higher in May compared to last year, and foreign demand rose 14.5 percent.

On a monthly basis, machine tool orders dropped 1.1 percent in May, well below the previous month's 6.8 percent decline.

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