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Manufacturing technology orders capped the first half of the year with another strong month in June, gaining 5 percent compared to June 2017 and bringing the annual growth rate to 22 percent for 2018, according to the latest U.S. Manufacturing Technology Orders Report from AMT – The Association For Manufacturing Technology. Orders totaled $417 million for the month, down 14 percent compared to May’s totals, and are $2.55 billion for the year.
The only region to show month-over-month growth was the Northeast, where power generation and aerospace were strong in June. Metal cutting equipment in the South Central region posted a 25 percent decline in June from May levels, but is nearly 40 percent ahead of the previous year’s order pace through the first six months of 2018. The strength is largely due to higher oil prices and growth in the contract machining industry, but significant orders in automotive have helped push the numbers up as well, according to AMT.
Activity in the North Central-West was softer in June, but continued to post strong year-to-date growth thanks to the mining and recreational equipment industries gearing up for additional demand. The strongest customer industries in June were aerospace and power generation equipment.