Orders for Manufacturing Technology up 6 Percent in September
Author(s): Edited by Josh Cable
Nov. 12, 2013
Manufacturers spent $398 million on machine tools and other manufacturing technology in September, according to the Association for Manufacturing Technology.
That's a nearly 6 percent increase from August. However, it's a far cry from the $577 million that manufacturers spent in September 2012.
With a year-to-date total of $3.5 billion, spending on manufacturing technology is down 11.3 percent compared with 2012.
"The monthly gain in USMTO indicates that manufacturers are making capital investments, and we expect these gains will grow in 2014," said Douglas Woods, president of the Association for Manufacturing Technology. "The year-over-year decline was anticipated due to the typical high volume during an IMTS year, which we saw in September 2012.
"A recent uptick in factory orders shows strong activity in a number of industries, particularly aerospace, which is forecast to grow more than 10 percent in the coming year. We also expect growth in automotive and energy, good news for manufacturing overall."
The association noted that "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."