Japan Machine Tool Builders' Association (JMTBA) announced on Monday its
preliminary estimates showed that the country's machine tool orders plunged
22.2 percent y-o-y in May, following a downwardly revised 14.4 percent y-o-y tumble
in April. That marked the fifth annual decrease in machine tool orders in a row.
According to the report, the total value of machine tool orders in May
was JPY119.316 billion, which was down 10.1 percent from April’s reading of JPY132.688
billion and represented the lowest figure since February 2021 (105.593 billion).
In May, domestic orders amounted to JPY37.599 billion (-9.9 percent m-o-m
and -24.0 percent y-o-y), while foreign orders totaled JPY81.717 billion (-10.2
percent m-o-m and -21.3 percent y-o-y).
Year to day, the Japanese machine
tool orders fell by 14.6 percent y-o-y to JPY646.205 billion, undermined by a 17.5
percent y-o-y decline in domestic orders and a 13.1 percent y-o-y drop in foreign
orders.