Economic Buzz: Japan machine tool orders rebound in July

Japan's machine tool orders increased in July after a renewed decline in June, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Wednesday.

Machine tool orders climbed 3.6 percent year-on-year in July, after falling 0.5 percent in the previous month, which was the first decrease in nine months.

Foreign orders grew 5.3 percent from last year, while domestic demand was down by 0.7 percent.

On a monthly basis, machine tool orders fell 3.6 percent, reversing a 3.5 percent increase in June.

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