Industry week reported that the monthly U.S. Manufacturing Technology Orders report, compiled by AMT – The Association for Manufacturing Technology, has very good news for the industrial equipment sector. U.S. manufacturers’ new orders of machine tools and related technology rose over 30% during March, the second month in a row showing rising demand. The results are based on actual data for domestic and imported products ordered by U.S. machine shops and other manufacturers.
In March, new orders totaled $507.91 million, an increase of 30.4% over the revised result for February, $389.37 million. The new result represents $468.09 million in metal cutting equipment and technology, and $39.83 million in orders for metal forming and fabricating products.
The March result is also 3.24% higher than the $491.96 million on record for March 2012, another period of rising demand. AMT president Douglas K. Woods acknowledged the challenge for machine tool builders and suppliers to improve on the 2012 record. “Our members are doing much better than analysts projected in January,” he stated. “When making a year-over-year comparison with these figures, it’s important to take into account just how strong 2012 was for our industry. Our members are doing much better than analysts projected in January.”
Of course, one month or quarter does not make a year. 2012 started out strong but orders slowed in the second quarter. An outstanding third quarter helped push the annual total to a positive result.
“With vehicle sales and housing starts on the upswing,” Woods added, “we can anticipate that gains in the consumer economy will also mean buoyancy for the industrial economy, and manufacturing will remain steady for the foreseeable future.”
Source: Industry Week, May 13, 2013
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