Machine Tool Orders Slip

ByJohn S. McClenahen After posting their highest level in four years in September, gross new orders of machine tools for U.S. consumption slipped 38.9% in October to $234.44 million, AMT - The Association for Manufacturing Technology and the American Machine Tool Distributors' Association jointly reported this week. Orders for metal cutting machine tools were $225.38 million in October, down 38.9% from September's $368.75 million. Orders for metal forming machine tools were $9.06 million in October, down 39.9% from September's $15.08 million. For the first ten months of 2004, new orders totaled $2.38 billion, 42.6% higher than the $1.669 billion figure for January through October 2003.