Japan Machine Tool Orders Top 100 B. Yen for 1st Time in 19 Months
Tokyo, March 10 (Jiji Press)--Machine tool orders received by Japanese makers in February rose 36.7 pct from a year before to 105,553 million yen, topping 100 billion yen for the first time since July 2019, industry data have shown.
The orders went up year on year for the fourth straight month, according to the preliminary data released by the Japan Machine Tool Builders’ Association on Tuesday.
The increase reflected a recovery in capital investment demand in China and other foreign countries from a slump caused by the coronavirus pandemic.
Orders from abroad jumped 66.0 pct to 75,091 million yen.
“We’re seeing a certain upturn in orders from not only China but also Europe and North America,” an official of the association said.
[Copyright The Jiji Press, Ltd.]