Japan Machine Tool Orders Down 5.1 Pct in FY 2018
Tokyo, April 23 (Jiji Press)--Machine tool orders in Japan in fiscal 2018 through March fell 5.1 pct from the previous year, affected by U.S.-China trade tensions, industry data showed Tuesday.
Orders from China plunged 35.2 pct. Demand for smartphone-related tools also dropped markedly.
Overall orders totaled 1,689.1 billion yen, marking their first decline in two years, the Japan Machine Tool Builders' Association said.
Orders from abroad fell 9.8 pct, while domestic orders grew 2.2 pct.
There appear to be signs of Chinese orders bottoming out, said Masayoshi Amano, president of the association. Still, he said uncertainties remain due mainly to the U.S.-China trade friction.
[Copyright The Jiji Press, Ltd.]