U.S. manufacturing technology orders increased 8.8% in the first sixth months of this year compared with 2011, according to the Association For Manufacturing Technology.
June's total, as reported by companies participating in the United States Manufacturing Technology Orders (USMTO) program, was down 0.6% from May and down 1.8% when compared with the total of $471.49 million reported for June 2011.
“Suppliers to technology builders are experiencing a backlog two to three times above normal levels, and consequently growth in manufacturing technology orders has slowed. A significant uptick in order activity is expected after IMTS (the International Manufacturing Technology Show),” said Douglas K. Woods, AMT President. “Along with monthly gains in industrial production, manufacturing payrolls also saw gains for the second consecutive month — an indicator that companies are both confident and optimistic that demand will increase.”
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.