July U.S. manufacturing technology orders totaled $246.38 million, according to AMT – The Association for Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 24.8 percent from June and down 23 percent from July 2015.
Year-to-date, total orders were $2,090.9 million, down 16.3 percent compared to the same point in 2015.
“The automotive and aerospace industries moved into a summer slump, piling on to manufacturing’s ongoing challenges from the effects of a strong dollar, weakness in key export markets and a soft oil and gas industry,” said AMT President Douglas K. Woods. “Manufacturers are feeling cautious about the economy and hesitant to make new investments until they get a better sense of certainty.”
The latest industry forecasts indicate that the capital manufacturing equipment market will remain in negative territory through the end of the year, with a return to positive growth not coming until the second quarter of 2017. While it is anticipated that sales from the International Manufacturing Technology Show will boost orders later in the year, sustained growth in orders is unlikely in the immediate future.
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