Japan's April Machine Tool Orders Lowest in 10 Years
Tokyo, May 26 (Jiji Press)--Machine tool orders received by Japanese makers in April tumbled 48.3 pct from a year before to 56,143 million yen, hitting the lowest level since January 2010, industry data showed Tuesday.
Orders declined for the 19th straight month, reflecting slumping demand from domestic and overseas companies amid the new coronavirus pandemic, according to the Japan Machine Tool Builders' Association.
The pace of decline was the largest since the 62.1 pct fall logged in September 2009.
Domestic orders were down 51.4 pct at 21,149 million yen, hitting the lowest level in about 10 years.
Orders from automakers fell sharply, by 61.5 pct, reflecting virus-led production suspensions by major automakers, such as Toyota Motor Corp. <7203>.
[Copyright The Jiji Press, Ltd.]