Demand for Machine Tools Falls in January

U.S. machine-tool demand fell in January from the previous month, but was still up from a year ago, two industry groups said in a report. The American Machine Tool Distributors’ Assn. and the Assn. for Manufacturing Technology said January demand fell 16.6% to $656.42 million from $787.43 million in December. But January’s figure was up 12.4% from $583.81 million a year earlier. Machine tools are used to shape metal and demand for them can provide a leading indicator of the pace of manufacturing.