Manufacturing technology orders down in May
May U.S. manufacturing technology orders totaled $336.98 million, down 6.2% when compared with May 2014.
According to AMT – The Association For Manufacturing Technology, the May total was down 13.2% from April’s $388.43 million. With a year-to-date total of $1,798.34 million, 2015 was down 7.9% when compared with 2014.
“In large part, the decline in manufacturing technology orders is due to smaller manufacturers feeling a sense of economic uncertainty and therefore hesitant to make any kind of capital investment,” said AMT president Douglas K. Woods. “In addition, the energy industry has curbed its spending, accounting for about half of the year-to-date decline in orders, and aerospace did not perform as well as expected in the first quarter. We expect the downturn to ease thanks to strong performance in the automotive and medical industries, with industrial production and a stronger PMI also indicating resilience in manufacturing.”
The United States Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, provides regional and national U.S. orders data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
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