Japan's machine tool orders fell for the first time in two years
Japan's machine tool orders fell for the first time in two years
From New.cn
From Xinhua Finance news , Beijing, November 11. According to data released by the Japan Machinery Industry Association, machine tool orders (preliminary value) in October decreased by 5.4% year-on-year to 141.1 billion yen. This is the first time since October 2020 that it was lower than the same month a year earlier.
External demand decreased by 2.4% to 96.5 billion yen. Inflation and interest rate hikes in the U.S. and Europe led to recession fears, affecting orders. Demand from smartphones and personal computers is declining, and Shibaura Machinery's October orders fell 3% to 1,142 million yen.
If machine tool orders, which are the leading indicators of economic trends, start to shrink, it may affect the overall investment in equipment.
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