The current demand for manufacturing technology also indicates other factors. “The new tax law is a big victory for manufacturers, who have been fighting for meaningful tax reform for decades,” commented AMT president Douglas K. Woods. “The lower rates together with expanded expensing provisions and a continued R&D tax credit will increase business confidence and investment at a time when transformative technologies are rapidly changing the landscape for our industry.”
The month-to-month decline in November new orders appeared to be concentrated in two regions of the U.S., the North Central-East and the South Central.
In the Northeast region, November manufacturing technology new orders totaled $67.62 million, 0.9% less than the October figure and 1.8% higher than the November 2016 figure. The YTD total for the region is $692.36 million, -3.6% compared to the 11-month result for 2016.
In the Southeast, new orders for metal-cutting equipment rose 8.0% from October and 35.5% from November 2016, with a regional total of $45.83 million. Total manufacturing technology new orders for the region through 11 months of 2017 were $486.5 million, which is 4.4% less than the comparable report for 2016.
In the North Central-East region, the November total for manufacturing technology orders was $15.08 million, a decline of 13.4% from October but still 23.8% higher than the November 2016 result. Through 11 months of 2017, the region’s total new orders stood at $1.016 billion, 11.1% higher than the year-earlier figure.
The North Central-West region’s manufacturers ordered $92.98 million worth of manufacturing technology during November 2017, 9.2% more than October and 2.7% more than November 2016. For the year-to-date, the region reported manufacturing technology orders totaling $769.34 million, or 10.1% more than the 2016 comparison.
In the South-Central region, new orders for metal-cutting equipment fell 21.2% from October to $33.84 million during November. That figure is still 74.8% higher than the November 2016 regional total, indicating the revived fortunes of manufacturers serving the oil-and-gas sector. Through the first 11 months of 2017, the South-Central region posted total manufacturing technology new orders valued at $378.56 million, or 63.8% higher than the comparable total for 2016.
Finally, in the West region new orders for metal-cutting machinery rose to $70.17 million during November, 6.0% higher than October and 31.2% higher than November 2016. For the year-to-date, the region’s total manufacturing technology orders had risen to $714.98 million, a 12.3% improvement over 2016.
