U.S. Machine Tool Orders Continue to Soften
Orders of $383.7 million in July 2019 were down five percent from the previous month.
Posted: September 20, 2019
U.S. manufacturing technology orders totaled $383.7 million in July 2019, an increase of seven percent over June 2019 but a fall of five percent from July 2018 according to the latest U.S. Manufacturing Technology Orders (USMTO) report published by AMT – The Association For Manufacturing Technology (McLean, VA). The total value of manufacturing technology ordered through July 2019 was $2.64 billion, a decrease of 12 percent from the 2018 year-to-date total of $2.98 billion.
“Our industry appreciated the good news that July orders out-paced June. The more interesting fact was that job shops accounted for nearly a third more of total orders than in 2018,” said Douglas K. Woods, the president of AMT. “Clearly, other larger manufacturers are putting off capital expenditures and addressing capacity needs by outsourcing production shortfalls with job shops. We suspect the impetus is the uncertainty with the current market and future economic conditions.”
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