Machine Tool Orders Jump: Machine tool orders...
From Times Staff and Wire Reports
Machine Tool Orders Jump: Machine tool orders surged 36.6% in March, to $265.85 million from $194.55 million in February, the Assn. for Manufacturing Technology said in a report. However, compared to March, 1989, last month’s machine tool orders, which are highly cyclical in nature, were down 8.5%. Year-to-date machine tool orders stood at $661.70 million, down 17.6% from the 1989 figure of $803.30 million. Industry analysts attributed the overall decrease in orders to a reduced demand from the automobile sector. March orders for domestic machine tools increased 20.6% over February, while orders for foreign machine tools jumped 104%.
