October 14, 2013 - August U.S. manufacturing technology orders totaled $371.97. This total, as reported by companies participating in the USMTO program, was up 4.9% from July but down 18.1% when compared with the total of $454.19 million reported for August 2012. With a year-to-date total of $3,107.16 million, 2013 is down 8.0% compared with 2012.
“We’re finding many reasons for optimism within the manufacturing economy. In addition to the monthly gain for USMTO, the latest Purchasing Managers Index was at 56.2, its highest reading in more than two years,” said Douglas K. Woods, AMT President. “Because of manufacturing’s international connectivity, we also welcome the improvements seen in the global markets in Europe and Asia. These gains are expected to continue for U.S. manufacturing as we head toward 2014, but all of this hinges on avoiding a government-induced economic derailment.” PLEASE NOTE: AMT - The Association For Manufacturing Technology’s intent is to always provide timely and accurate economic reports to our community. For this reason, we are 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. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level. USMTO Report FAQs What is the USMTO Report? The United States Manufacturing Technology Orders (USMTO) Report, measures manufacturing technology net new orders every month based on gross order and cancellation data collected from America’s distributors and builders of manufacturing technology. The report provides national U.S. consumption data of domestic and imported machine tools and related equipment, as well as on a regional basis for five geographic breakdowns of the United States. These orders include both domestically produced manufacturing technology and products that have some non-U.S. content, but have some work added domestically. Increases in dollar volume of manufacturing technology orders show that more manufacturing work on the end product is occurring in the U.S. What is Manufacturing Technology? Manufacturing technology encompasses everything between raw materials and finished product. Manufacturing technology turns raw materials such as steel, iron, plastic, ceramics, composites, and alloys from their original shape as stock materials into what will become durable goods such as airplanes, cars, and appliances we use every day. Why is the USMTO Important? Analysis of manufacturing industries investment levels in capital metalworking equipment to increase capacity and improve productivity has historically provided a reliable leading economic indicator for the recovery or softening of America’s industrial base. Manufacturing technology orders are truly an indication of the vitality of America’s industrial base. Changes in orders are a confirmation of recovery, often establishing an upturn or downturn long before the traditional indicators identify a recovery in full bloom. By collecting data from distributors and builders are orders reported twice? Duplications are eliminated using a software program that identifies orders sold to the same customer. Non-U.S. builders who sell into this market are included and the data reported in the USMTO Report represents more than 65% of the U.S. manufacturing technology market and nearly 80% of the market. Who “owns the USMTO Report? The report is compiled by AMT – The Association For Manufacturing Technology who represents the production and distribution of manufacturing technology.