Machine Tool Consumption Down Again

ByJohn S. McClenahen For machine tools, the big machines that cut and bend metal, recovery from the 2001 U.S. recession is anything but a straight upward line. After an impressive gain in new orders for U.S. consumption in September, orders for both metal-cutting and metal-forming machine tools fell in October. Gross new orders for metal-cutting machine tools were $148.93 million in October, down 25.2% from September's $199.09 million. New orders for metal-forming machine tools were $8.66 million, down 44.2% from $15.52 in September. The combined total of $157.58 million for October was 26.6% below September's total of $214.61 million.