Japan's machine tool orders increased 52.8% year over year in June to 203.5 billion yen, according to preliminary data from the Japan Machine Tool Builders' Association released Thursday.
The pace of increase accelerated from the 37.4% expansion in May and came in above the consensus forecast of 37.4%, tracked by Trading Economics.
The sustained expansion in June was driven by robust overseas demand. Foreign orders rose 56% from a year earlier to 145.5 billion yen, while domestic orders increased 45.5% to 58 billion yen.