In 2012, the month after the IMTS, machine tool sales experienced a monthly increase of 40.7%. Association for Manufacturing Technology (AMT) president Douglas K. Woods believes the same will happen this year.
“We continue to see manufacturing as a leading player in the U.S. economy,” stated Woods. “While manufacturing technology orders were down for the month, we believe we are coming into an environment ripe for capital investment.
“With a strong PMI reading in July and a record high for U.S. exports, manufacturing shows no signs of slowing,” Woods continued. “Additionally, as capital equipment is reaching an advanced age and interest rates are continuing to stay low, we believe we will see strong order activity in the months following IMTS.”
Read more on the U.S. Manufacturing Technology Orders report on American Machinist, a companion site of IndustryWeek and part of Penton’s Manufacturing and Supply Chain Group.