(AMT) — February U.S. manufacturing technology orders totaled $354.40 million according to AMT — The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 6.6% from January and down 6.2% when compared with the total of $377.82 million reported for February 2013. With a year-to-date total of $733.82 million, 2014 is down 0.6% 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.
“A soft first quarter was expected for technology orders, and in this case further challenged by a harsh winter,” said AMT President Douglas K. Woods. “Many key industry forecasts indicate growth for manufacturing through the end of the year. With the average age of capital equipment at almost 22 years and interest rates continuing to stay low, the environment is ripe for investment in manufacturing technology.”
The United States Manufacturing Technology Orders (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.
At $64.05 million, manufacturing technology orders in the Northeast Region in February were up 14.3% when compared with February 2013. Year-to-date orders were 41.8% higher than in 2013.
North Central-East Region
February manufacturing technology orders in the North Central-East Region totaled $82.06 million, down 6.5% from January’s $87.80 million and down 25.2% when compared with last February. At $169.87 million, year-to-date 2014 was down 20% from the comparable figure for 2013.
North Central-West Region
The North Central-West Region February 2014 manufacturing technology order total of $57.48 million was up 18.9% from the $48.34 million January total but off 23.6% when compared with February 2013. The year-to-date total of $105.82 million was 26.2% less than the total for the same period in 2013.
Year-to-date manufacturing technology orders in the West Region were up 39.1% when compared with the 2013 total at the same time.
The Association For Manufacturing Technology
AMT – The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members—those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow’s Smartforce. AMT owns and manages IMTS – The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America. The USMTO report is compiled by AMT and all data in the report is based on the totals of actual data reported by companies participating in the USMTO program.