OTHER NEWS - Feb. 24, 1992
From Times Staff and Wire Reports
Machine-Tool Orders Plunge: Orders and shipments of U.S.-made machine tools fell sharply in January. Orders dropped nearly 37% to $217 million from $343 million in December, according to the Assn. for Manufacturing Technology. However, orders were 8.7% higher than the $200 million placed in January, 1991, when the economy was depressed by the Gulf War. Albert Moore, president of the group, said he was worried that buyers were delaying purchases to see whether President Bush and Congress can agree on investment incentives as part of an economic growth package. Orders of machine tools--used to cut and form metal parts in manufactured goods from refrigerators to aircraft--are an important indication of the health of the manufacturing sector.
