Machine Tool Orders Plunge During August

Orders for machine tools dropped 23.3% in August from the previous month , reflecting the weak economy and purchases that might have been delayed ahead of a trade show in September, an industry report said Sunday.

Orders for machine tool exports also dropped, reflecting weak foreign economies, the Assn. for Manufacturing Technology said. Until recently, exports had been rising.

“There appears to be a slowdown in the economy and manufacturing sector,” said Lynn Reaser, chief economist at First Interstate Bancorp in Los Angeles.

Orders totaled $157.70 million, down 33.1% from August, 1991.

Purchasers may have put off placing orders in August, prefering to wait until a trade show held in Chicago early this month, where they can see new products and make comparisons.