Japan’s machine tool orders fall for 8 months in a row
Japan’s work machinery industry will be released on September 11, data show that the machine tool orders in August amounted to 114.7 billion yen, a year-on-year decrease of 18%. For eight consecutive months lower than the same month the previous year. China’s economic slowdown has had an impact. On the other hand, in Japan, semiconductor manufacturing equipment and automobile-related investment continued to be sluggish.
Among the orders, domestic demand decreased by 31% year-on-year to 35.6 billion yen. Makino Milling Machine Manufacturing Co., Ltd. pointed out that “the recovery of demand for semiconductor manufacturing equipment is the most important concern, and the related market conditions have not yet recovered”. Demand for automobiles, but also waiting for the pure electric vehicle (EV) related investment in the full start of the time.
External demand fell 10% year-on-year to 79 billion yen. Shibaura Machinery said China’s economy remains sluggish. Okuma’s chief also said that China’s economy is showing a sense of deceleration and that equipment investment has not developed a strong momentum. In addition, in the U.S. market, small and medium-sized companies are postponing equipment investment due to high interest rates.