October manufacturing technology orders in the U.S. totaled $459.16 million, down 31.3% from September and down 0.1% from October 2011. However, with a year-to-date total of $4.75 billion, 2012 is still up 5.3% compared with 2011 despite the drastic drop, according to AMT - The Association for Manufacturing Technology

 “Orders continue to be on pace for a record-setting year, and a monthly drop was fully expected in the month following IMTS,” said Douglas K. Woods, AMT President.

However, Woods noted that to maintain this pace, certain action is required by the U.S. government.

“While manufacturing continues to play a strong role in economic recovery, our main concern heading toward the end of the year is that lawmakers do what’s necessary to avoid the ‘fiscal cliff,’ and the implications it could have on the broader economy,” he said.

The United States Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, pro-vides regional and national U.S. orders data of domestic and imported machine tools and related equipment.

Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.