Japan Machine Tool Orders Down 7.8 Pct in Nov.

Economy

Tokyo, Dec. 12 (Jiji Press)--Machine tool orders received by Japanese makers in November fell 7.8 pct from a year before to 134,121 million yen, down for the second straight month, industry data showed Monday.

The decline came in reaction to the year-before high figure, which reflected a demand recovery, and because demand for semiconductor-related and other goods is "starting to level off," according to an official of the Japan Machine Tool Builders' Association.

The association's preliminary data showed that November orders from abroad decreased 7.3 pct to 88,389 million yen, also down for the second month in a row, while domestic orders shrank 8.5 pct to 45,732 million yen, down for the third consecutive month.

Fears of a recession triggered by inflation appear to be slowing decisions on new investments.

Machine tool orders had been growing year-on-year for 23 straight months through September.

[Copyright The Jiji Press, Ltd.]

Jiji Press