MCLEAN, Va. — U.S. manufacturing technology orders totaled $336.98 million in May, according to the Assoc. for Manufacturing Technology (AMT). This total, as reported by companies participating in the U.S. Manufacturing Technology Orders (USMTO) program, was down 13.2% from April’s $388.43 million and down 6.2% when compared with the total of $359.28 million reported for May 2014.
With a year-to-date total of $1,798.34 million, 2015 was down 7.9% when compared with 2014. These numbers and all data in the report are based on the totals of actual data reported by companies participating in the USMTO program.
“In large part, the decline in manufacturing technology orders is due to smaller manufacturers feeling a sense of economic uncertainty and therefore hesitant to make any kind of capital investment,” said AMT President Douglas Woods. “In addition, the energy industry has curbed its spending, accounting for about half of the year-to-date decline in orders, and aerospace did not perform as well as expected in the first quarter. We expect the downturn to ease thanks to strong performance in the automotive and medical industries, with industrial production and a stronger PMI also indicating resilience in manufacturing.”
The USMTO report, compiled by the trade association representing the production and distribution of 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 metal-working equipment to increase capacity and improve productivity.