Japan Machine Tool Orders Dive 30 Pct in Jan.-June

Economy

Tokyo, July 23 (Jiji Press)--Machine tool orders in Japan in January-June plunged 29.3 pct from a year before to 681,930 million yen, industry data showed Tuesday.

Orders from China fell sharply, hurt by the U.S.-China trade war and Japanese companies' caution about making fresh capital investments due to economic uncertainty.

The Japan Machine Tool Builders' Association said Chinese orders plummeted 48.2 pct to 94,790 million yen, falling below 100 billion yen for the first time in three years. In June, Chinese orders slid year on year for 16 months in a row.

Among major industries, the electric, precision instrument and automobile sectors logged significant falls in orders.

Orders from abroad sagged 28.4 pct to 415,610 million yen.

[Copyright The Jiji Press, Ltd.]

Jiji Press