FX.co ★ Japan Machine Tool Orders Fall 8.0%

According to preliminary data released by the Japan Machine Tool Builders Association (JMTBA), machine tool orders in Japan have experienced a downturn for the fourteenth consecutive month. The decline in February was mainly due to a slump in domestic demand.

In comparison to the same period the previous year, machine tool orders in February dropped by 8.0 percent, a slower rate than the 14.0 percent double-digit reduction seen in the preceding month.

In terms of demand, domestic orders in February were 16.5 percent lower compared to the previous year, whereas foreign orders shrank by 4.1 percent.

However, on a brighter note, February saw a 2.9 percent rebound in machine tool orders on a monthly basis, which contrasts with a sharp fall of 12.7 percent in the month prior.