Manufacturing technology orders rise in June
June U.S. manufacturing technology orders totaled $405.73 million according to AMT - The Association for Manufacturing Technology. This total, as reported by companies participating in the United States Manufacturing Technology Orders (USMTO) program, was up 12.6 percent from May, but down 2.1 percent when compared with the total of $414.26 million reported for June 2013. With a year-to-date total of $2,349.38 million, 2014 is down 2.7 percent compared with 2013.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTO program.
“Order gains in June were driven by two factors — the end of the quarter and continued strength in key customer industries, especially automotive, aerospace, medical and energy,” said Douglas K. Woods, AMT President. “What really warrants attention, however, is a rise in the average value of orders, as this suggests manufacturers are making investments in greater productivity as well as capacity. Our forecasts suggest continued moderate growth throughout the rest of the year and going into 2015.”
The USMTO report, compiled by the trade association representing the production and distribution of 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.
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.
U.S. manufacturing technology orders are also reported on a regional basis for six geographic breakdowns of the United States.
Northeast Region— June 2014 manufacturing technology orders in the Northeast Region totaled $57.71 million, 12.8 percent less than the $66.19 million for June 2013. Year-to-date orders stood at $362.78 million, off 7.9 percent when compared with 2013 at the same time.
Southeast Region— At $214.05 million, 2014 year-to-date manufacturing technology orders in the Southeast Region were down 0.8 percent when compared with the total for 2013 at the same time.
North Central-East Region— June manufacturing technology orders in the North Central-East Region totaled $119.32 million, a rise of 48.4 percent from May’s $80.43 million and 7.5 percent more than the $111.00 million figure for June a year ago. With a year-to-date total of $667.29 million, 2014 was 5.9 percent above the comparable figure a year ago.
North Central-West Region— June manufacturing technology orders in the North Central-West Region totaled $82.90 million, up 47.8 percent when compared with May’s $56.10 million and 8.6 percent more than the June 2013 total of $76.36 million.
South Central Region— At $58.09 million, June manufacturing technology orders in the South Central Region were down 5.7 percent when compared with last June’s $61.61 million. Year-to-date orders stood at $371.96 million, 0.2 percent less than the comparable figure for 2013.