U.S. manufacturing technology orders declined in January, dropping 40.7 percent compared to December and 11.4 percent compared to January 2016, according to the latest U.S. Manufacturing Technology Orders report from AMT – The Association For Manufacturing Technology.
“January’s slump was not unexpected as it was in line with analyst forecasts for a soft start to 2017. We continue to be on track for an upturn later in the spring,” said AMT President Douglas K. Woods. “Several large capital expansion projects have been announced in recent weeks, and the PMI was up for the sixth consecutive month. Our members report increased quotation activity and at the HOUSTEX show in early March, both attendees and visitors were upbeat.”
There are several indications of a coming upturn in orders for capital manufacturing equipment. A long list of noteworthy expansion projects has been announced recently by leading global manufacturers, including $386 million for Pratt & Whitney’s Columbus, Ohio, facility, and Toyota’s $600 million investment in Princeton, Ind. Additionally, the Cutting Tool Market Report for January showed an 8.7 percent monthly gain in cutting tool consumption, a measure of the primary consumable in the manufacturing process.
Orders for January 2017 totaled $252.21 million, down from December’s $425.18 million. USMTO is a reliable leading economic indicator as manufacturing companies invest in capital metalworking equipment to increase capacity and improve productivity.
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The United States Manufacturing Technology Orders (USMTO) report These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTO program. This report, compiled by AMT – The Association For 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.
About AMT – The Association For Manufacturing Technology AMT represents U.S.-based builders and distributors of manufacturing technology – the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, VA, near the nation’s capital, AMT acts as the industry’s voice to speed the pace of innovation, increase global competitiveness and develop manufacturing’s advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, AMT offers its members an unparalleled level of support. AMT also produces IMTS – The International Manufacturing Technology Show, the premier manufacturing technology event in North America.
About IMTS – International Manufacturing Technology Show The largest and longest running manufacturing technology trade show in the United States is held every other year at McCormick Place in Chicago, Ill. IMTS 2018 will run Sept. 10-15. IMTS is ranked among the largest trade shows in the world. Recognized as one of the world’s preeminent stages for introducing and selling manufacturing equipment and technology, IMTS attracts more than 114,000 visitors from every level of industry and more than 112 countries. IMTS is owned and managed by AMT – The Association For Manufacturing Technology. www.IMTS.com
(USMTO data is also available at www.AMTonline.org.) ISSN# 10807756