U.S. Machine Tool Demand Falls in December

U.S. demand for machine tools fell in December, the American Machine Tool Distributors’ Assn. and the Assn. for Manufacturing Technology said in a joint report. The trade groups estimated demand for machine tools in December at $482 million, down 4% from a revised $503 million in November that was previously reported as $440 million. Machine tools are used to shape metal in making everything from bicycles to aircraft. Demand can provide a leading indicator of the pace of manufacturing. December demand was also down 39% from an estimated $787 million in December 1997, the groups said. Orders for all of 1998 were estimated at $7.6 billion, down 12% from total 1997 orders.