Japan's Feb. Machine Tool Orders Dive amid Virus Crisis
Tokyo, March 10 (Jiji Press)--Machine tool orders received by Japanese makers in February tumbled 30.1 pct from a year before to 76,714 million yen, amid the spread of the new coronavirus, industry data showed Tuesday.
Orders declined for the 17th straight month and hit the lowest level since January 2013, according to the data from the Japan Machine Tool Builders Association.
The decline came partly because orders from abroad fell 34.2 pct to 44,765 million yen, the lowest level since January 2010, reflecting a slump in demand from China, the epicenter of the viral outbreak.
Orders from China declined as marketing activities there were suspended due to the outbreak, an official of the association said.
Domestic orders were down 23.3 pct at 31,949 million yen.
[Copyright The Jiji Press, Ltd.]