Japan Machine Tool Builders' Association (JMTBA) reported on Monday its
preliminary estimates showed that the country's machine tool orders tumbled by 17.6
per cent y-o-y in August, following an unrevised 19.8 per cent y-o-y plunge in July. That marked the seventh annual drop
in machine tool orders in a row.
According to the report, the total value of machine tool orders in July
was JPY114.746 billion, up 0.4 per cent from July’s reading of
JPY114.340 billion, which was the lowest number since February 2021 (105.593
billion).
The August m-o-m recovery in total machine tool orders was undermined by
stronger demand from overseas. The foreign orders totalled JPY79.066 billion, up
5.5 per cent m-o-m but down 9.7 per cent y-o-y. Meanwhile, domestic orders
amounted to JPY35.680 billion, down 9.4 per cent m-o-m and 31.1 per cent y-o-y.
Year to day, the Japanese
machine tool orders plummeted by 16.4 per cent y-o-y to JPY997.523 billion, reflecting
a 21.8 per cent y-o-y decline in domestic orders and a 13.5 per cent y-o-y fall
in foreign orders.