FX.co ★ Japan Machine Tool Orders Plunge 22.2%

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

Machine tool orders plummeted 22.2 percent year-on-year in May, much faster than the 14.4 percent fall in the previous month.

Domestic demand was 24.0 percent lower in May compared to last year, and foreign orders contracted 21.3 percent.

On a monthly basis, machine tool orders fell 10.1 percent in May, following a 5.9 percent drop in the prior month.