McLean, VA – February US manufacturing technology orders totalled $304.74 million according to the Association for Manufacturing Technology (AMT). This total, as reported by companies participating in the United States Manufacturing Technology Orders (USMTO) program, was down 10.6% from January’s $341.02 million and down 14.8% when compared with the total of $357.86 million reported for February 2014. With a year-to-date total of $645.76 million, 2015 was down 9.8% when compared with 2014.
These numbers and all data in the report are based on the totals of actual data reported by companies participating in the USMTO program.
“US manufacturing is facing some pressure in terms of a stronger dollar and lower capital expenditures from the energy industry, but in taking the long view, we’re still in a good position overall,” said AMT president Douglas K. Woods. “The automotive and aerospace industries continue to be strong performers, and a number of international manufacturers are making significant investments in US production facilities. We project that manufacturing technology orders will gain momentum as we move through the second quarter.”
The USMTO report, compiled by the trade association representing the production and distribution of manufacturing technology, provides regional and national US 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.