June U.S. manufacturing technology orders totaled $405.73 million, according to AMT (Association for Manufacturing Technology). This total, as reported by companies participating in the USMTO program, was up 12.6% from May, but down 2.1% when compared with the total of $414.26 million reported for June 2013. With a year-to-date total of $2,349.38 million, 2014 is down 2.7% compared with 2013.
“Order gains in June were driven by two factors—the end of the quarter and continued strength in key customer industries, especially automotive, aerospace, medical, and energy,” said Douglas K. Woods, AMT president. “What really warrants attention, however, is a rise in the average value of orders, as this suggests manufacturers are making investments in greater productivity as well as capacity. Our forecasts suggest continued moderate growth throughout the rest of the year and going into 2015.”
In October 2013, the AMT began making an adjustment to the USMTO report. Due to a change in survey participants, the year over year comparison number for metal forming and fabricating is not an accurate reflection of the data.
The data for the past 12 months takes this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level.
Both Patrick McGibbon and AMT President Douglas Woods are available for further comment on USMTO and its importance as a leading economic indicator.
For more information, visit amtonline.org.