Economic Buzz: Japan Machine Tool Orders Decline

9 Jun 2022 , 01:47 PM

According to a preliminary data from the Japan Machine Tool Builders Association, or JMTBA, Japans machine tool order growth eased for the fourth successive month in May. Machine tool orders grew 23.7 percent year-on-year in May, slower than the 25.0 percent rise in April. Orders have been increasing since November 2020. Domestic orders were 49.0 percent higher in May compared to last year, and foreign demand rose 14.5 percent. On a monthly basis, machine tool orders dropped 1.1 percent in May, well below the previous months 6.8 percent decline. Powered by Commodity Insights