Economic Buzz: Japan machine tool orders surge 9.9% in September

Japan's machine tool orders increased for the third straight month in September, preliminary data from the Japan Machine Tool Builders Association, or JMTBA, showed on Thursday.

Machine tool orders climbed 9.9 percent annually in September, faster than the 8.5 percent rise in the previous month.

Foreign orders logged a double-digit growth of 13.3 percent from last year, and domestic demand was up by 3.0 percent.

On a monthly basis, machine tool orders recovered sharply by 14.7 percent in September versus a 6.4 percent decline in August.

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