According to data from the
Japan Machine Tool Builders’ Association (JMTBA), the total value of machine tool orders in June was 133.82 billion yen (about $913 million), an increase of 7.5% compared to May 2024 and marking the second consecutive month of month-on-month growth.
Moreover, this figure represented an increase of 9.7% compared to June 2023 and marked the second consecutive month of year-on-year growth. The JMTBA said that although orders in June showed an upward trend, this increase was localised, adding that it will need to closely monitor future trends to see when a full-scale recovery in orders will occur.
Compared to May, domestic orders in June rose by 17.1% to reach 40.81 billion yen, marking the first month of month-on-month growth in three months. However, this figure was a decrease of 0.1% over June 2023 and marked the 22nd consecutive month of year-on-year decline. Looking at major industries, orders compared to May rose by 14.7% in industrial machinery, by 19.8% in motor vehicles, fell by 9.2% in electrical and precision machinery, and rose by 34.1% in aircraft, shipbuilding, and transport equipment.
Foreign orders in June rose by 3.7% over May to 93.01 billion yen, marking the second consecutive month of month-on-month growth. Moreover, foreign orders showed an increase of 14.6% over June 2023, marking the first month of year-on-year growth in two months.
By region, June orders from Asia rose by 10.3% over May to 47 billion yen, representing an increase of 41.1% on June 2023. Orders from Europe rose by 0.2% to 17.30 billion yen but were down 10.7% from June 2023. At 23.60 billion yen, orders from North America were down 14.6% from May and down 10% from June 2023.