Industry: Tooling Up

The U.S. machine tool industry, which makes the machines that other industries use to produce $174 billion worth of the nation's durable goods, is in the midst of the greatest upsurge in new orders in seven years. Machine tools range from simple drilling and stamping presses to wondrously complicated automated machines that bore an auto engine block in one continuous process. Since they sometimes take as long as two years to build, new orders are a key indicator of how businessmen feel about the future. For the first quarter of 1963, U.S. machine toolmakers received...

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