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Japan's Machine Tool Orders Rise 50.4% in July

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Japan's machine tool orders increased 50.4% year over year in July to 193.1 billion yen, according to data from the Japan Machine Tool Builders' Association on Wednesday.

The pace of growth was slower than the 52.8% expansion recorded in the previous month, but beat the Trading Economics forecast for a 42% increase.

The sustained increase in July was driven by a 50.5% rise in foreign demand to 139.9 billion yen and a 50.2% increase in domestic orders to 53.2 billion yen.

In the first seven months of the year, Japan's machine tool orders jumped 37.8% year over year to 1.248 trillion yen.

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