FX.co ★ Japan Machine Tool Orders Fall Further

Japan's machine tool orders declined for the second straight month in November, as both domestic and foreign demand weakened, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Monday.

Machine tool orders declined 7.8 percent year-on-year in November, following a 5.5 percent fall in October, which was the first decrease since November 2020.

Domestic demand was 8.5 percent lower in November compared to last year, and foreign orders dropped 7.3 percent.

On a monthly basis, machine tool orders declined 4.9 percent in November, slower than the 6.5 percent decrease in October.