June U.S. manufacturing technology orders totaled $459.39 million according to AMT, the Association for Manufacturing Technology, and AMTDA, the American Machine Tool Distributors Association.
This total was up 15.3% from May and up 91.7% when compared with the total of $239.68 million reported for June 2010.
With a year-to-date total of $2.45 billion, 2011 is up 103.9% compared with 2010.
"At this pace, the industry would post orders equal to all of 2010 by the end of August," said Douglas K. Woods, president of AMT.
Still, industry leaders view the rest of 2011 with cautious optimism given the weakness in parts of the economy illustrated by the Dow' plunge at the beginning of August. We expect a bump in orders related to customers taking advantage of the current Bonus Depreciation rate before it is reduced in 2012."