Japan's machine tool orders increased by 3.0% year-on-year to JPY 119,336 million in November 2024, showing a slowdown compared to the 9.3% growth recorded in the previous month, according to the Japan Machine Tool Builders Association data.
Japan's Machine Tool Orders up 3% in November
This growth was driven by a 5% rise in domestic orders, which reached JPY 34,326 million, and a 2.2% increase in foreign orders, which amounted to JPY 85,010 million. However, machine tool orders fell by 2.6% every month, extending the decline from the 2.3% drop observed in the prior period. Over the first eleven months of 2024, machine tool orders were down 1.3%, totaling JPY 1,342,024 million.
Slowdown in Japan's Machine Tool Orders signals cautious industry outlook
The slowdown in growth may reflect ongoing global economic uncertainties, including weaker demand from key international markets and domestic sectors, and signals a cautious outlook for the industry's recovery moving forward.
