Japan’s Jan.-June Machine Tool Orders Lowest in 11 Years

Economy

Tokyo, July 22 (Jiji Press)--Machine tool orders received by Japanese makers in January to June tumbled to its lowest first-half level in 11 years, industry data have shown.

Orders fell to 410,020 million yen, down 39.9 pct from a year before, according to the data from the Japan Machine Tool Builders’ Association released Tuesday.

The decline reflected a slump in demand due to the global spread of the novel coronavirus.

In June alone, orders dropped 32.1 pct to 67,190 million yen, marking the 21st consecutive month of year-on-year fall. Orders rose from May, the first uptick in three months.

“It is too early to view the June figures as a sign of a rebound (in orders),” association Chairman Yukio Iimura said at a press conference the same day.

[Copyright The Jiji Press, Ltd.]

Jiji Press