New orders still rising through late summer, as manufacturing technology rides multiple indicators of expansion for seventh consecutive month of recover
U.S. manufacturers ordered $380.16 million worth of new machine tools during August, 15.7% more than in July and 14.3% more than in August 2016. According to AMT – the Assn. for Manufacturing Technology, the results continued the ongoing recovery in the sector, which struggled to maintain growth in the previous three years, owing to uneven demand from domestic manufacturing.
AMT issues the monthly U.S. Manufacturing Technology Orders (USMTO) report that summarizes actual totals for machine tool sales, nationwide and in six regions. The figures are reported by participating companies that produce and distribute metal-cutting and metal-forming and -fabricating equipment, including domestically manufactured and imported machinery and equipment.
“The 16% growth in orders in August was surprising as orders tend to slow during the summer months,” commented AMT president Doug Woods.
Through the first eight months of 2017, new orders for machine tools total $2.78 billion, which is 11.2% higher than the January-August 2016 total.