JAPAN DATA: Preliminary monthly data from the Japan Machine Tool
Builders’ Association:
— May machine tool orders -2.9% y/y at Y104.95 billion, marking
the first drop in three months after +0.4% in April.
— Orders from the domestic market, a leading indicator of core
machinery orders, +1.4% y/y, the 3rd straight rise after +3.0% in April.
— Orders from overseas, which account for about 70% of overall
orders, -4.7% y/y, the 5th straight drop after -0.8% in April.
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