Machine Tool Orders Plunge: Machine tool orders...
From Times Staff and Wire Reports
Machine Tool Orders Plunge: Machine tool orders fell 28.7% in May while shipments increased 5.6%, the Assn. for Manufacturing Technology said. Machine tool orders, which are highly erratic, fell to $206.20 million in May from $289.25 million in April. May orders were 0.5% above May of 1989. In the first five months, machine tool orders came to $1.16 billion, down 7.5% from the same period in 1989. Domestic orders fell 31.6% in May from April, while foreign orders increased 2.4%. Total machine tool shipments increased in May to $272.60 million from $258.10 million in April. May shipments were 13.2% above their level for May of 1989.
