Japan Machine Tool Orders Down 31 Pct in July
Tokyo, Aug. 13 (Jiji Press)--Machine tool orders received by Japanese makers in July tumbled 31.1 pct from a year before to 69,784 million yen, due to sluggish capital investment amid the coronavirus outbreak, industry data showed Wednesday.
The figure hit the lowest level for the month since July 2009, when orders slumped in the wake of the global financial crisis, according to the Japan Machine Tool Builders’ Association.
On a month-to-month comparison, orders have been recovering gradually since bottoming out in May. “Orders in July are close to the level in March, before the government declared a state of emergency over the coronavirus,” an association official said.
In July, domestic orders were down 39.8 pct from a year before at 24,802 million yen while those from abroad dropped 25.2 pct to 44,982 million yen.
[Copyright The Jiji Press, Ltd.]