The overall reading slipped for a fourth straight month, but stronger production, easing input costs and rising capital-spending intentions point to a still-healthy expansion.
New orders and hiring pulled back, trimming the reading to 54.8, but a stronger production pace and easing costs kept the market's eighth straight month of expansion intact.
A jump in production lifted the finishing index to 57.2 and a seventh straight month of expansion, but a sharp drop in prices received points to a tightening margin squeeze.
A softer month for orders and hiring trimmed the index to 54.7, though production stayed strong and the market held for an eighth straight month of expansion.
New data reveals shifting global machine tool production, consumption and trade trends.
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