Machine Tool Orders Slowed In January

ByJohn S. McClenahen Although January 2004 gross new orders of machine tools for U.S. consumption ran nearly 20% ahead of January 2003, they were almost 24% under December 2003's figure as the industry continued its recent monthly pattern of slowing and growing. U.S. machine tool consumption in January 2004 totaled $161.19 million, with new orders for metal cutting machines of $149.16 million and new orders for metal forming machines of $12.02 million, jointly report the American Machine Tool Distributors' Association and AMT-The Association for Manufacturing Technology. January's overall figure was 23.9% below December 2003's figure of $211.17 million. January's metal cutting number was 21% under December's $188.83 million, and January's metal forming figure was 47.5% below December's $22.88 million.