Manufacturing Technology Orders Made More Gains in November
Orders for manufacturing technology climbed year over year and year to date in November 2017 according to the latest U.S. Manufacturing Technology Orders report from AMT – The Association For Manufacturing Technology. Orders totaled $425.97 million for the month, up 19.0 percent compared to November 2016. At a cumulative total of $4.06 billion for the year, orders were up 9.4 percent compared to the same point in 2016.
“The new tax law is a big victory for manufacturers, who have been fighting for meaningful tax reform for decades,” said AMT President Douglas K. Woods. “The lower rates together with expanded expensing provisions and a continued R&D tax credit will increase business confidence and investment at an time when transformative technologies are rapidly changing the landscape for our industry.”
With consumer sentiment remaining at strong levels and capacity utilization continuing to move upwards, demand for manufactured goods is expected to stay strong in the coming months. The PMI from the Institute for Supply Management rose to 59.7 in December, the 16th consecutive month where the index has remained above 50, indicating expansion for manufacturing. Meanwhile, the aerospace industry is looking resurgent as new aircraft orders have been announced to go on top of a significant backlog, ramping up that industry’s supply chain after two years of contraction.
A PDF of this release and its tables is attached to this email and available online here. AMT staff are available for further comment.
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The United States Manufacturing Technology Orders (USMTO) report
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTO program. This report, compiled by AMT – The Association For 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.
About AMT – The Association For Manufacturing Technology
AMT represents U.S.-based builders and distributors of manufacturing technology – the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, VA, near the nation’s capital, AMT acts as the industry’s voice to speed the pace of innovation, increase global competitiveness and develop manufacturing’s advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, AMT offers its members an unparalleled level of support. AMT also produces IMTS – The International Manufacturing Technology Show, the premier manufacturing technology event in North America.
IMTS – International Manufacturing Technology Show
The largest and longest running manufacturing technology trade show in the United States is held every other year at McCormick Place in Chicago, Ill. IMTS 2018 will run Sept. 10-15. IMTS is ranked among the largest trade shows in the world. Recognized as one of the world’s preeminent stages for introducing and selling manufacturing equipment and technology, IMTS attracts more than 114,000 visitors from every level of industry and more than 112 countries. IMTS is owned and managed by AMT – The Association For Manufacturing Technology. www.IMTS.com