According to data from the Japan Machine Tool Builders’ Association (JMTBA), the total value of machine tool orders in November was 145.40 billion yen (about £928 million). This was a decrease of 2.6% compared to November 2021 and marked the first month of month-on-month decline in three months.

However, this figure represented an increase of 64.0% compared to November 2020, although the Association said it will be paying close attention to the effects of material shortages, soaring material prices and transportation costs.

Domestic orders fell by 0.6% from October, amounting to 50.00 billion yen; and while this marked the first month of month-on-month decline in two months it represented an 84.9% increase over November 2020. Looking at major industries, orders compared to October rose by 0.9% in industrial machinery, fell by 1.5% in motor vehicles, rose by 5.7% in electrical and precision machinery, and fell by 64.1% in aircraft, shipbuilding and transport equipment.

Foreign orders fell by 3.6% from October to 95.40 billion yen but were 54.8% higher than for November 2020. By region, orders from Asia rose by 6.1% over October to 43.72 billion yen — a 32.5% increase on November 2020; and while orders from Europe fell by 19.6% from October to 20.46 billion yen, this amount was 101.1% higher than for November 2020. Orders from North America fell by 3.6% from October, amounting to 29.33 billion yen — some 74.0% greater than for November 2020.