Notes from the Floor

Japan's machine tool orders: 17 months of a full order book, and what it does to your delivery date

Japanese machine tool orders hit ¥193.09bn in July, +50.4% year on year and the 17th straight month above ¥120bn. A buyer's read on lead times, escalation clauses and the 39.3% one-month fall in automotive demand — with August's number out today.