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October Manufacturing Technology Orders Up 10.2% from September

October U.S. manufacturing technology orders were $435.02 million, according to The Association for Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 10.2 percent from September but down 3.2 percent compared with October 2012. With a year-to-date total of $3.9 billion, 2013 is down 10.6 percent from the 2012 level.

These numbers are based on the totals of actual data reported by companies participating in the USMTO program.

“October’s order growth, combined with the latest PMI reading, is added reinforcement that manufacturing is continuing on its positive trend,” said AMT President Douglas K. Woods. “We expect more good news headed into 2014, especially as domestic energy costs continue to drop and as key industry segments show solid growth, particularly automotive.”

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. 

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