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August 2023 MT preliminary report, Slight MoM recovery as YoY decline continues

September 12, 2023

The Japan Machine Tool Builders’ Association (JMTBA) announced the preliminary report of machine tool orders for August 2023. The total value of orders received was 114.7 billion yen, up slightly for the first time in two months. The year-on-year (YoY) figure declined for the eighth consecutive month and was below 120 billion yen for the second consecutive month. This is the 31st consecutive month that orders have exceeded 100 billion yen. 

Domestic demand decreased 9.4% month-on-month (MoM) to 35.6 billion yen. This was the second consecutive month of MoM decline and the 12th consecutive month of YoY decline. As domestic demand continued to be in an adjustment phase, it lacked stimulus from subsidies and other factors in August, falling below 40.0 billion yen for the second consecutive month. 

Foreign demand increased by 5.5% MoM to 79.0 billion yen. This was the first MoM increase in five months and the eighth consecutive YoY decline, resulting in two consecutive months below 80 billion yen. 

Further details are to be released at the time of the final report, and the situation in China, which is apparently stagnating, and in Western markets, where uncertainty remains, are being closely watched. 


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