Tool Orders Up for 1st Time in 3 Months
From Bloomberg News
U.S. machine tool orders rose for the first time in three months, another sign the economy is strengthening, according to an industry survey.
Bookings for domestic and foreign-made tools surged 67% to $244.6 million in June from $146.36 in May, the Assn. of Manufacturing Technology and the American Machine Tool Distributors Assn. said.
Orders rose 3.3% from June 2002, the first time monthly orders grew from the corresponding year-earlier period since November 2000. The increase was helped in part by a change in the tax code that allows small businesses to write off the value of some purchases.
From Bloomberg News
