Japan Machine Tool Orders Rise 14.2% In November

(RTTNews) - Japan's machine tool orders increased for the fifth straight month in November amid strong foreign demand, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Tuesday.

Machine tool orders climbed 14.2 percent annually in November, though slower than the 17.1 percent surge in the previous month.

Foreign orders logged a double-digit growth of 23.2 percent from last year, while domestic demand dropped by 8.1 percent.

On a monthly basis, machine tool orders were down 5.0 percent in November, reversing a 3.1 percent growth in October.