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September 12, 2016 - USMTO News Release For July Manufacturing Technology Orders
The U.S. Manufacturing Technology Orders report for July 2016 shows that orders dropped 24.8 percent for the month compared to June, according to data from AMT – The Association For Manufacturing Technology. Year over year, monthly orders were down 23.0 percent compared to July 2015.
“The automotive and aerospace industries moved into a summer slump, piling on to manufacturing’s ongoing challenges from the effects of a strong dollar, weakness in key export markets and a soft oil and gas industry,” said AMT President Douglas K. Woods. “Manufacturers are feeling cautious about the economy and hesitant to make new investments until they get a better sense of certainty.”
The latest industry forecasts indicate that the capital manufacturing equipment market will remain in negative territory through the end of the year, with a return to positive growth not coming until the second quarter of 2017. While it is anticipated that sales from IMTS – The International Manufacturing Technology Show will boost orders later in the year, sustained growth in orders is unlikely in the immediate future. The Institute of Supply Management’s PMI, a key measure of manufacturing’s health, dropped to 49.4 in August, indicating contraction.
July 2016 manufacturing technology orders were valued at $246.38 million, down from $327.67 million in June. Year to date, orders are valued at $2,090.88 million, compared to $2,497.64 million at the same point in 2015, a drop of 16.3 percent. USMTO data is a reliable leading economic indicator as manufacturing companies invest in capital metalworking equipment to increase capacity and improve productivity.
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
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