Apr 11, 2016 -- The U.S. Manufacturing Technology Orders report (USMTO) for February 2016 showed that orders were down 5.1% compared to the previous month, and down 12.8% compared to the same month in 2015. The report is generated from data compiled by AMT – The Association For Manufacturing Technology.
Orders for capital equipment continue to slump as the overall U.S. manufacturing industry battles the effects of a strong dollar and weak demand from international markets. While Europe, Japan and the United States are seeing economic expansion, China continues to struggle along with other emerging global economies. However, increasing commodity prices and other positive economic indicators could point to a more favorable climate for some sectors of U.S. manufacturing, particularly mining, construction and agricultural.
“We’ve seen some better news about manufacturing, especially for the domestic market, but the industry will continue to face a number of economic challenges through much of the year,” said AMT President Douglas K. Woods. “Our members are reporting more quotation activity for their products and equipment and we expect an expanded market for manufacturing technology towards the fourth quarter. Additionally, a recent surge in housing starts is anticipated to give a boost to consumer spending, and the March PMI showed expansion in the manufacturing sector for the first time in six months.”
Globally, there are other signs of recovery, including a jump in China’s PMI, its first since July 2015. Europe’s PMI readings also showed moderate growth. Additionally, many Japanese manufacturing firms are nearing the end of their fiscal year, which usually bodes well for order activity.
For regional manufacturing technology orders, activity was again strong from the automotive, medical and aerospace sectors, particularly in the Southeast. The South Central region also showed a gain in orders driven by the oil and gas exploration industry, thanks to a recent boost in oil prices.
February 2016 manufacturing technology orders were valued at $270.9 million, compared to $310.7 million in February 2015. Overall orders for the year are down 16.3% compared to the same point in 2015. USMTO data 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 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.
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 2016 will run Sept. 12-17. 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
Contacts:
Amber Thomas, AMT
703-827-5230
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