November 2023 – Preliminary report on MT orders, 2nd consecutive month of new lows in domestic demand

December 12, 2023

The Japan Machine Tool Builders’ Association (JMTBA) announced the preliminary report of machine tool orders for November 2023. Orders totaled 115.8 billion yen, the first month-on-month (MoM) increase in two months. The year-on-year (YoY) figure was down for the 11th consecutive month and below 120 billion yen for the second consecutive month. This is the 34th consecutive month that orders have exceeded 100 billion yen.

Domestic demand decreased 2.9% MoM to 32.6 billion yen. This was the second consecutive month of MoM decline and the 15th consecutive month of YoY decline, falling below 35 billion yen for the second consecutive month, and recording the lowest volume this year for the second consecutive month. As the gradual slowdown in the economy continues, the trend next month and beyond should be watched closely.

Foreign demand increased 6.1% MoM to 83.2 billion yen. This was the first MoM increase in two months and the 11th consecutive month of decline, and the first time demand exceeded 80 billion yen in two months. The trend remained flat compared to domestic demand. Details by region, including the presence or absence of large orders, are reported when the final report is released.