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Cutting Tool Orders Increased 3.9% in September
That was the first month-over-month increase since April 2015.
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Real cutting tool orders were $175.2 million in August 2016. That was almost exactly the average monthly total since January 2012. August's orders were up 3.9 percent compared with one year ago, which was the first month-over-month increase since April 2015. In August, the annual rate of contraction decelerated to its slowest rate since May. The trend in durable goods new orders, which is a good leading indicator of cutting tool orders, appears to be moving in a positive direction for future cutting tool orders. Durable goods new orders generally have contracted at a decelerating annual rate since October 2015.