Machine Tool Shipments Rise 50% in February

U.S. machine tool shipments soared 50.1% in February to $228.4 million from $152.20 million in January, up sharply from a 37.2% rise in February, 1988, the National Machine Tool Builders’ Assn. said.

In its monthly statistical report, the tool industry trade association said in a report to be released today that total machine tool orders also rose, climbing 22.3% to $282.2 million last month from January’s total of $230.8 million. February orders fell 5.3% from a year earlier.

Orders of metal forming tools rose 4.9% last month to $67 million from January’s $63.85 million, the association said. Last year, February tool orders totaled $47.65 million.

The association said metal cutting tool orders rose 28.9% last month from January to $215.2 million, but were down 14% from $250.4 million in February 1988.

Metal forming shipments totaled $77.75 million in February, up 57.1% from January’s $49.35 million total, while metal cutting shipments rose 46.7% to $150.9 million in February.

The association said the backlog of orders in February was $2.32 billion, up from the January backlog of $2.26 billion.

In the first two months of this year, metal cutting and forming tools were down 13.8% at $513.10 million, but cutting and forming shipments increased 22.9% to $380.65 million.