Machine tool orders remained steady in October
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Manufacturing News, Source : TheManufacturer.com
Published : 10 Dec 2002 21:27
Orders for machine tools held steady in October at a three-month high, falling only slightly to $186.93 million from $186.95 million in September, the Association for Manufacturing Technology and the American Machine Tool Distributors Association said in a recent report.
So far this year, machine tool orders are down 26.6% from 2001’s figures. Year to date, October’s orders were 0.6% lower.
Reports noting the current contraction of the manufacturing economy and excess production capacity for durable goods underscore the need for US manufacturers to adapt to permanent systemic changes taking place, said Ralph Nappi, president of the Machine Tool Distributor’s Group. No doubt business will improve, but not to prior levels, he said.
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