Japan Machine Tool Orders Fall for 1st Time in 23 Months
Tokyo, Nov. 22 (Jiji Press)--Orders for Japanese machine tools dropped for the first time in 23 months in October, hurt by trade tensions between the United States and China, industry data showed Thursday.
"Makers are concerned that protectionist trade policies are starting to have a direct impact on machine tools," Yukio Iimura, chairman of the Japan Machine Tool Builders' Association, told a press conference.
Machine tool orders edged down 0.7 pct in October from a year before to 139,619 million yen, the association said.
The trade dispute between Washington and Beijing prompted Chinese semiconductor-related makers and others to cut back on capital spending, the association said.
Domestic orders increased 1.7 pct to 57,655 million yen, while orders from overseas fell 2.4 pct to 81,964 million yen.
[Copyright The Jiji Press, Ltd.]