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May 2024 Japan machine tool preliminary orders: First YoY increase in 17 months

June 12, 2024

The Japan Machine Tool Builders’ Association (JMTBA) has released the preliminary report on new machine tool orders for May 2024. The total amount of new orders received was 124.5 billion yen, marking a 3.0% increase from the previous month. This is the first month-on-month (MoM) increase in two months and the third consecutive month of orders exceeding 120 billion yen. Notably, orders increased year-on-year (YoY) for the first time in 17 months. 

Domestic demand decreased by 4.2% MoM to 34.8 billion yen. This marks the second consecutive month of a MoM decrease and the 21st consecutive month of a YoY decrease, falling below 35.0 billion yen for the first time in three months. Domestic demand was noticeably weaker than foreign demand, partly due to a reduction in the number of working days caused by a large national holiday at the beginning of the month. 

Foreign demand, on the other hand, increased by 6.1% MoM to 89.7 billion yen.  This is the first MoM increase in two months and the first YoY increase in 17 months. Orders exceeded 85 billion yen for the first time in two months, reaching nearly 90 billion yen.   

The results of the final report should be watched closely to see if this increase includes large orders or if it marks a turning point in the recovery of demand. 


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