Manufacturing Technology Orders Down in July

July U.S. manufacturing technology orders totaled $354.63 million according to AMT—The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 11.5 percent from June and down 1.4 percent when compared with the total of $359.70 million reported for July 2013. With a year-to-date total of $2,711.36 million, 2014 is down 2.3 percent compared with 2013. The United States Manufacturing Technology Orders (USMTO) report provides regional and national U.S. orders data of domestic and imported machine tools and related equipment.

“We continue to see manufacturing as a leading player in the U.S. economy,” says Douglas K. Woods, president of AMT. “While manufacturing technology orders were down for the month, we believe we are coming into an environment ripe for capital investment. With a strong PMI reading in July and a record high for U.S. exports, manufacturing shows no signs of slowing. Additionally, as capital equipment is reaching an advanced age and interest rates are continuing to stay low, we believe we will see strong order activity in the months following IMTS.”