U.S. Manufacturing Technology Orders Continue on Path to Strong Recovery
Manufacturing technology orders made year-over-year gains in April according to the latest U.S. Manufacturing Technology Orders report from AMT – The Association For Manufacturing Technology. It was also the first month that orders showed gains year to date for 2017.
Monthly orders were up 12.3 percent compared to April 2016, and year-to-date orders were up 2.1 percent compared to the same point last year. The gains are in line with other indicators that show strength in manufacturing: growth in industrial production and consumer sentiment; PMI above 50 for the ninth consecutive month, indicating expansion; and business confidence at its highest level in 13 years.
“A combination of strong quotation activity and adjustments to inventory give us a promising outlook for capital equipment investment through the rest of 2017,” said AMT President Douglas K. Woods. “We are cautiously optimistic in the positive direction for the manufacturing technology market. On one hand, we’re bolstered by the Conference Board CEO Confidence Index hitting its highest level since 2004, but also balancing off reductions in auto sales projections and flat oil prices, which have impacted some of our key sectors.”
April 2017 manufacturing technology orders totaled $324.46 million, up from $288.80 million in April 2016. Year-to-date orders totaled $1,290.34 million, up from $1,263.45 million at the same point in 2016. USMTO is a reliable leading economic indicator as manufacturing companies invest in capital metalworking equipment to increase capacity and improve productivity.
About 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 pro- ductive, 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.
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