U.S. manufacturers and machine shops ordered $246.38 million worth of metal-cutting and metal-forming and –fabricating equipment (collectively, "manufacturing technology") during July, down 24.8% from the June figure. It is the fourth month of declining value in new orders this year, according to the monthly U.S. Manufacturing Technology Orders report, compiled by the AMT – the Association for Manufacturing Technology.
The USMTO report summarizes actual totals for machine tool orders reported by participating companies that produce and distribute metal-cutting and metal-forming and –fabricating equipment, including domestically manufactured and imported machinery and equipment.
Through the end of July, U.S. manufacturing technology new orders total $2.09 billion, 16.3% lower than the January-July 2015 order total.
“The automotive and aerospace industries moved into a summer slump, piling on to manufacturing’s ongoing challenges from the effects of a strong dollar, weakness in key export markets and a soft oil and gas industry,” stated AMT president Douglas K. Woods. “Manufacturers are feeling cautious about the economy and hesitant to make new investments until they get a better sense of certainty.”