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The forecast of Japan’s machine tool orders in 2020 revised downward to 850 billion yen

October 1, 2020

On September 30, 2020, Japan Machine Tool Builders’ Association (JMTBA) revised its forecast of Japan’s machine tool orders in 2020 downward from 1.2 trillion yen, which was announced at the beginning of 2020, to 850 billion yen.

The forecast of orders in 2020 fell sharply by 30.9% compared to the machine tool order in 2019, falling below 1 trillion yen for the first time since 2010 when the effects of the financial crisis still remained.

Demand for machine tools has been sluggish due to the intensifying trade friction between the United States and China in recent years and the spread of COVID-19. By these factors, JMTBA has revised its 2020 order forecast downward.

This article was translated by “T-4OO”.

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