Apr 10, 2017 -- U.S. manufacturing technology orders increased more than expected in February, up 19.6 percent from January, according to the latest U.S. Manufacturing Technology Orders report from AMT – The Association For Manufacturing Technology. Orders were up 1.7 percent year over year. 

“We anticipated an increase in orders after a soft January, but we are surprised by the strength of the February numbers,” said AMT President Douglas K. Woods. “What’s even more encouraging is the pickup wasn’t a spike related to any specific industry or region, but rather was broad-based – from Northeast to West as well as everything from aerospace to consumer products. This activity reinforces our projections for a full recovery in manufacturing technology orders by the end of the second quarter.”

While all regions reported growth, the Northeast grew by 41 percent led by the small arms and aerospace industries. Nationally, aerospace had the largest growth rate, more than doubling January’s total. There was also surprising strength reported in appliances; medical devices; and off-road and highway equipment.  The February data is aligned with other key indicators of the manufacturing sector’s health. For example, every component of the March Purchasing Managers Index was up; the Federal Reserve’s manufacturing output data had its best back-to-back monthly increases in three years; and durable goods orders and housing starts climbed in February. 

Orders for February 2017 totaled $300.51 million, up from January’s $251.36 million. USMTO is a reliable leading economic indicator as manufacturing companies invest in capital metalworking equipment to increase capacity and improve productivity.

AMT – The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members—those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow’s Smartforce. AMT owns and manages IMTS — The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America.

 

 

 

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