Japan's machine tool orders saw an uptick for the third consecutive month in July, driven largely by heightened foreign demand, according to preliminary data released Tuesday by the Japan Machine Tool Builders Association (JMTBA).
In July, machine tool orders experienced an 8.4% year-on-year increase, marking a slower growth than the 9.7% rise observed in June.
Foreign demand surged by 17.9% in July compared to the previous year, while domestic orders shrank by 9.6%.
On a month-to-month basis, machine tool orders decreased by 7.4% in July, which contrasts with the 7.5% growth registered in June.
