The 2020 Mid-Year Economic Update_long

U.S. Manufacturing Technology Orders Up 0.2% in October

Year-to-date, orders are down 5.6 percent.

October U.S. manufacturing technology orders totaled $335.5 million, according to AMT – The Association for Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was up 0.2 percent from October 2015, but down 32.9 percent from September.

Year-to-date, total orders were $3,244.1 million, down 5.6 percent compared to the same point in 2015.

Orders have begun to emerge gradually from the trough seen through most of 2016, and other signs indicate that the manufacturing economy is improving, albeit slowly. Housing starts grew 25.5 percent in October, a good sign for manufacturers who make appliances, cars and electronics. Additionally, the November 2016 PMI from the Institute for Supply Management was 53.2, indicating expansion in manufacturing, and factory output improved slightly in October. However, global trade remains largely stagnant.

“It’s certainly welcome to see signs of recovery for manufacturing overall, but marked improvement for manufacturing technology orders is not forecast until the second quarter of 2017,” said AMT President Douglas K. Woods. “Unless manufacturers feel pressed on capacity, they aren’t likely to make substantial capital investments in machinery and equipment. Those signs of gradual improvement and increased utilization rates are emerging, albeit slowly.”

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