Manufacturing Technology Orders Dipped in November 2014
Despite the monthly decrease, the YTD total was up compared to 2013.
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U.S. manufacturing technology orders totaled $378.06 million in November 2014, according to AMT–The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 15.5 percent from October and down 14.5 percent compared to November 2013. Yet despite the monthly dip, the year-to-date total was $4.56 billion, up 2.6 percent compared with 2013.
“Despite a downward monthly trend in manufacturing technology orders, we remain bullish on the U.S. industry market overall, with robust factory production and strong performance in the automotive sector,” said Douglas K. Woods, AMT president. “Many manufacturers took a ‘pause’ in November to assess the challenges from the previous few months, such as contraction in China, Europe and Russia; less activity from the oil and gas industry due to the dramatic drop in prices; and perhaps a little bit of the ‘IMTS Effect’ pulling some sales forward. Overall, however, we anticipate 2015 to be another year of positive growth, with manufacturing leading the U.S. economy.”
The United States Manufacturing Technology Orders (USMTO) report, compiled by AMT, provides regional and national U.S. orders data for domestic and imported machine tools and related equipment. According to the association, the 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.
