Cutting Tool Orders Down 6.9% in July
Real cutting tool orders were $177.5 million in July 2015. Compared with July 2014, real orders were down 6.9 percent. This was the fourth straight month of month-over-month contraction. The annual rate of change has grown at a decelerating rate for six straight months.While there is not much history to work from with this report, there are a number of potential leading indicators for this data series, including durable goods production, durable goods new orders, and the Gardner Business Index. All three of the aforementioned leading indicators are pointing towards slower annual growth in cutting tool orders.
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