Japan Machine Tool Orders Rise 3.5%

(RTTNews) - Japan's machine tool orders increased for the fifth straight month in February, though at a slower pace compared to the previous two months, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Tuesday.

Machine tool orders climbed 3.5 percent year-on-year in February, following a 4.7 percent rise in the previous month. Meanwhile, economists had expected a stable increase of 4.7 percent.

Domestic demand was 3.9 percent higher in February compared to last year, and foreign orders rose by 3.4 percent.

On a monthly basis, machine tool orders rebounded 1.8 percent after falling sharply by 18.8 percent in January.