U.S Manufacturing technology orders drop slightly
Manufacturing technology orders declined slightly in November 2016,dropping 2.4 percent compared toOctober, according to the latest U.S.Manufacturing Technology Ordersreport from AMT – The Association For Manufacturing Technology. In total for the year, orders were down 5.1 percentcompared to the same point in 2015.
The motor vehicle, aerospace and job shop sectors showed increased order activity in the last few months of the year, indicating capital investment in anticipation of a need for additional capacity. Some leading economic indicators suggest stronger activity ahead. The Purchasing Managers
Index from ISM climbed for the fourth consecutive month to 54.7 in December, and new orders and production for U.S. factories rose to their highest levels since 2014. Industry analysts for manufacturing
technology forecast that orders may begin to rebound as early as April.
While the industry endured some challenges in 2016, bookings for the
last few months of the year were better than expected and early input on January is very promising, particularly in the aerospace and job shop sectors Improvementshave been seen in the overall economy, with post-election business confidence on the rise as demonstrated by strong performance in
the financial and equity markets.
November 2016 total order value was $329.61 million, down from October’s
total of $337.58 million. Year to date, orders were valued at $3,577.71 million,
compared to $3,771.28 million for the same point in 2015. USMTO is a
reliable leading economic indicator as manufacturing companies invest in capital metalworking equipment to increase
capacity and improve productivity.