U.S. manufacturers in July registered new orders for machine tools and related products worth $399.34 million, upholding the steady volume of capital investment that has characterized the current business cycle. In fact, the July total the result represents the second consecutive decline in new orders, a 3.0% drop from the June result, “reflecting the start of the typical summer slowdown,” according to the U.S. Manufacturing Technology Orders report.
But, in the broader picture, the July orders represent a 19.7% increase over July 2017 orders, and the total brings year-to-date new orders to $2.95 billion, a 22.4% expansion over last year’s January-July total.
AMT – the Assn. for Manufacturing Technology, issues the monthly USMTO report based on data supplied by participating companies that produce and distribute metal-cutting and metal-forming and -fabricating equipment. The report includes data for domestically manufactured and imported machinery and equipment, and the results are based on actual order totals, nationwide and in six regional markets.
“The current growth rate in manufacturing technology orders is outstanding in the face of market uncertainty due to trade tensions,” stated AMT president Doug Woods. “This unusual strength during the summer months reflects the market’s confidence in the continued growth in manufacturing, the need for additional capacity, and the challenges in putting that into place in a timely manner due to strain on key component supply chains.”
