Japan Machine Tool Orders Fall 9.9%

(RTTNews) - Japan's machine tool orders declined for the twelfth straight month in December due to weak domestic and foreign demand, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Monday.

Machine tool orders fell 9.9 percent year-on-year in December, which was slower than the 13.6 percent plunge in the previous month.

Domestic demand was 10.5 percent lower in December compared to last year, and foreign orders contracted by 9.7 percent.

On a monthly basis, machine tool orders grew 9.2 percent in December, following a 3.4 percent rebound in November.