December 22, 2022
Japan Machine Tool Builders’ Association (JMTBA) announced the firm report for machine tool orders for November 2022. The total amount of orders received was 134.1 billion yen, marking the lowest in 2022. Both month-on-month (MoM) and year-on-year (YoY) orders decreased for the second month in a row. It was the 22nd consecutive month in which orders exceeded 100 billion yen.
Domestic demand increased MoM for the first time in two months and decreased YoY for the third consecutive month to 44.6 billion yen. It was the second consecutive month in which domestic demand fell below 50.0 billion yen, but still exceeded the 45.0 billion yen line. In November, the effect of the JIMTOF 2022 exhibition and subsidies boosted domestic orders, however, due to weak growth in the automotive sector, the MoM increase was limited to single digits.
By industry, 6 of the 11 industries saw MoM increases, while 7 saw YoY decreases. Although domestic demand in Japan seems to be slowing down slightly, the effect of the exhibition is expected to carry over into December and beyond.
Foreign demand decreased for the second consecutive month to 88.5 billion yen, both on the MoM and YoY basis. It was the first time in three months that foreign demand fell below 90 billion yen. As with domestic demand, foreign demand is also showing signs of settling down, but still remains at a high level of around 90 billion yen.
Orders by region for the three major markets (Asia, Europe, and North America) were up MoM only in Europe. In Europe, several spot orders were received, with Turkey and Switzerland recording their highest amounts since the classification was formed. Orders from Europe exceeded 20 billion yen for the first time in six months, recording the highest in 2022. Orders from Asia remained strong, exceeding 40 billion yen for the 14th consecutive month, despite month-on-month declines for China and India. For North America, orders fell below 25 billion yen for the first time in 15 months. The IMTS exhibition effect has slowed down, and orders from Canada and Mexico also fell below 1 billion yen.
|Amount (million yen)||MoM change (%)||YoY change (%)|
|Electrical & Precision Machinery||5,844||104.6||72.3|
Japan MT orders for
November 24, 2022
September 30, 2022