Japan Machine Tool Orders Rise 4.7%

(RTTNews) - Japan's machine tool orders increased for the fourth straight month in January, though the pace of growth eased sharply since December, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Wednesday.

Machine tool orders climbed 4.7 percent year-on-year in January, following a 12.6 percent surge in the previous month.

Domestic demand was 4.5 percent higher in January compared to last year, and foreign orders rose by 4.7 percent.

On a monthly basis, machine tool orders declined sharply by 12.8 percent in January, reversing a strong 19.9 percent recovery in the prior month.