Japan Machine Tool Orders Surge 16.8%

(RTTNews) - Japan's machine tool orders increased for the fourth straight month in October, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Wednesday.

Machine tool orders climbed 16.8 percent annually in October, faster than the 11.0 percent rise in the previous month. The expected increase was 9.9 percent.

Foreign orders logged a double-digit growth of 20.7 percent from last year, and domestic demand was up by 6.3 percent.

On a monthly basis, machine tool orders were up 2.8 percent in October versus a 15.8 percent growth in September.