May 9, 2016 -- The U.S. Manufacturing Technology Orders report (USMTO) for March 2016 showed that orders grew 36.9% compared to the previous month, according to AMT – The Association For Manufacturing Technology. However, orders still were down 11.8% compared to March 2015, and stand at 15.0% down year to date compared to the same point a year ago.
Though the monthly gain appears significant, it is important to note that many manufacturing technology firms close the fiscal year on March 31, which in turn drives activity for orders and sales. Overall, the immediate industry outlook remains flat.
“While dealing with persistent economic challenges and a softer market that’s likely to last into the fourth quarter, manufacturers are leveraging productivity gains to stay competitive,” said AMT President Douglas K. Woods. “The outlook from industry economists improves toward year’s end on two particular strengths of the U.S. economy: foreign direct investment and a resurgent consumer base. For now, manufacturing technology makers are focused on finding markets that offer the best opportunity, like automotive, aerospace and medical. Sentiment among manufacturing executives remains optimistic about future capital equipment investment.”
Other economic data from the manufacturing sector has also been tepid. The ISM PMI came in at a lowerthan-expected 50.8% for April, and regional Fed surveys for the month were mixed. However, one bright spot was export orders, which rose to a 17-month high.
Regional activity for manufacturing technology orders was particularly strong in the Northeast, much of it driven by activity in the aerospace industry. While the Southeast region saw a monthly drop in orders, it is the only region measured by USMTO that has shown a year-to-date gain in orders compared to 2015, much of it coming from the aerospace and automotive industries.
March 2016 manufacturing technology orders were valued at $370.98 million, compared to $420.79 million in March 2015. Year-to-date orders stand at $922.67 million, compared to $1,085.40 million at the same point a year ago. 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