Machine Tool Orders Slide
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WASHINGTON — Machine tool orders tumbled in July because of weak domestic demand, the Assn. for Manufacturing Technology said today.
Orders were at $233.75 million in July--usually a month of weakness--down 11.9% from June. Compared to July, 1989, however, they were up 22.5%.
“Machine tool orders are hanging tough, considering that July is usually a slow month, as many manufacturing plants have summer shutdowns and the auto industry is normally in the process of model changeovers,” said Albert W. Moore, president of the trade association.
July shipments were $233.40 million last month, down 33.4% from June.
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