OTHER NEWS - July 29, 1991

Machine Tool Orders Rise: U.S. machine tool orders rose 13% in June, reversing three consecutive months of decline, the Assn. for Manufacturing Technology said in its monthly report. June tool orders rose to $172.9 million from $153.0 million in May but were off 34.8% from $265.3 million posted a year ago. Machine tool shipments fell 8.5% in June to $212.1 million from May’s total of $231.9 million and were off 39.4% from $350.3 million in June 1990. Association President Albert Moore said he was encouraged by the gain in tool orders and particularly by strengthening exports. Export orders for the first six months were 15.3% higher than at same time a year ago, and export shipments were up 7.1%. Machine tools are precision instruments used to manufacture metal products ranging from stoves and washing machines to complex weaponry. Although the industry is relatively small, its activity is an indicator of the strength of industrial production and capital spending by manufacturers.