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U.S. manufacturing technology orders posted double-digit gains in May, both sequentially and year-over-year, as the sector showed strong, sustained growth, according to new data from the U.S. Manufacturing Technology Orders (USMTO) report released by AMT-The Association for Manufacturing Technology.
Orders totaled $485 million in May, bringing the year-to-date total to $2.1 billion, 26 percent higher than the same period in 2017.
Regionally, all areas posted order increases in May, with the South Central region showing gains that point to a rebound for manufacturing technology expenditures. The North Central-West posted the largest year-to-date gains at 40.3 percent, fueled by increased activity in the off-road equipment, medical equipment and job shop industries, AMT said.
Large investment programs announced by the auto industry 18-24 months ago are beginning to bear fruit with May orders, with much of that going to the “New Detroit”--Tennessee, Alabama, Georgia and the Carolinas.
AMT also pointed to the engine and turbine industry as a sector to watch, noting that power generation is seeking a rapid increase in capacity.
“The West and Southeast are the two areas that seem to be driving this growth, though New England is still very strong in this sector,” according to the AMT report.