The total value of machine tool orders in October was 87.45 billion yen.

This represented a fall of 11.6% compared to September and a fall of 37.4% compared to October 2018; it was the 13th consecutive month of year-on-year decline.

The total amount of orders fell below 90 billion yen for the first time in two months; it was also the first time in nine years that October orders were below 90 billion yen.

The JMTBA (Japan Machine Tool Builders’ Association) (www.jmtba.or.jp) said that both domestic and foreign demand remain weak due to the trade friction between the USA and China.

Domestic orders in October fell by 27.4% from September, amounting to 33.42 billion yen and were down 42.0% from October 2018, marking the 11th consecutive month of year-on-year decline.

Looking at major industries, orders compared to September fell by 33.4% in industrial machinery, by 9.7% in motor vehicles, and by 41.0% in electrical and precision machinery.

However, they rose by 66.8% in aircraft, shipbuilding and transport equipment.

Foreign orders rose by 2.1% over September to 54.03 billion yen, but they were down 34.1% compared with October 2018, marking the 13th consecutive month of year-on-year decline.