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Japan Machine Tool Order Growth Slows In April

Japan’s machine tool order growth eased for the third straight month in April, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed Monday.

Machine tool orders grew 25.0 percent year-on-year in April, slower than the 30.0 percent rise in March. Orders have been increasing since November 2020.

Domestic orders grew 47.5 percent in April from a year ago and foreign demand rose 15.8 percent.

On a monthly basis, orders dropped 6.8 percent in April, in contrast to a 16.0 percent gain in March, which was the first rise in three months.

The material has been provided by InstaForex Company – www.instaforex.com