Tool Orders Rose in June: Orders for...
From Times Staff and Wire Reports
Tool Orders Rose in June: Orders for U.S.-made machine tools rose 27.2% in June from the previous month, an industry trade group said in a report to be issued today. In the Assn. for Manufacturing Technology reported that machine tool orders totaled $262.7 million in June, up from $206.5 million in May, and up 9.1% from $240.7 million in June, 1989. Although the industry is relatively small, its activity is a key indicator of the strength of industrial production and is used by economists to gauge capital spending by manufacturers. Machine tools are used to make metal products ranging from cookware to complex weaponry.
