The Japan Machine Tool Builders' Association (JMTBA) reported that global orders for Japanese machine tools in October 2024 totaled 122,550 million yen ($811.59 million), marking a 2.2% decrease from the previous month. This decline ends a two-month streak of growth, although orders remained above the 120,000 million yen mark. On an annual basis, orders grew by 9.4%, the first increase in three months.

The association noted that while October's orders were relatively stable due to large-scale orders, the momentum was not strong enough to indicate a full recovery. The JMTBA plans to closely monitor future trends.

Domestic orders in Japan for October 2024  stood at 33.441 billion yen (U$221.46 million), a 19.5% decrease from the previous month, marking the first decline in two months. On an annual basis, orders decreased by 0.6%, extending a 26-month streak of declines. Key industries saw the following declines compared to September: automotive (8.2%), machinery (17.6%), and electronics and precision equipment (29.5%), while the aerospace, shipbuilding, and transportation equipment industry saw a 18.9% increase.

Overseas orders in October 2024  reached 89.109 billion yen (U$590.13 million), a 6.3% increase from the previous month, marking two consecutive months of growth. On an annual basis, orders grew by 13.6% for the third consecutive month. Regional breakdowns are as follows:

• Asia: 49.884 billion yen (US$330.36 million), a increase of 16.5% from September 2024.
  • China: 28.996 billion yen (US$192.03 million), a increase of 5.8%.
  • India: 9.712 billion yen (US$64.32 million), an increase of 75.6%.
  • Thailand: 916 million yen (US$6.07 million), an decrease of 49.4%.
• Europe: 16.509 billion yen (US$109.33 million), an increase of 22.3%.
• North America: 21.203 billion yen (US$140.42 million), an decrease of 14.4%.
  • United States: 17.423 billion yen (US$115.38 million), a decrease of 21.4%.

Read more: Japan Machine Tool Orders: September 2024