Japan Machine Tool Orders Surge 11.4%

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

Machine tool orders climbed 11.4 percent year-on-year in March, following a 3.5 percent rise in the previous month.

Domestic demand was stalled compared to last year, while foreign orders grew sharply by 17.9 percent.

On a monthly basis, machine tool orders jumped 27.8 percent after rising 1.8 percent in February.