Forecast: Shipments to slacken in '98
By Staff -- Modern Materials Handling, 2/1/1998
The machine tool industry will likely post a "modest decrease" this year in U.S. shipments, after six consecutive years of gains. That's the projection from The CIT Group, a lender company financing the purchases of this type of equipment.Real shipments will be down 6.6% this year, mirroring a projected slowdown in the overall economy. But there's a brighter outlook later on, according to CIT: shipment levels should be up 3.2% in 1999, and up 0.7% in 2000.
"The continued health of the overall economy, particularly in durable goods manufacturing, is the best indicator for the machine tool industry," says Donal Ratigan, a senior vice president with CIT. "Durable goods manufacturing is growing at almost twice the rate of gross domestic product" in the U.S.
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