US Manufacturing Technology Orders off to a Slow Start
Following a robust 2012, January U.S. manufacturing technology orders totaled just $370.62 million, down from $422.33 million reported for January 2012.
January's report, according to AMT -- the Association for Manufacturing Technology -- marks a sharp 26.5% drop from December and a year-to-date decline of 12.2% from 2012.
“The drop-off between December and January is typical for technology orders, and it’s important to keep in mind that orders were exceptionally strong at the end of 2012, outperforming much of the broader economy,” said Douglas K. Woods, AMT President.
“While the manufacturing economy continues to be strong, we may see its growth undercut by fiscal uncertainty due to the impact from sequestration,” he added.
The United States Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, provides 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.
Regional Breakdown
Northeast Region: Manufacturing technology orders in the Northeast Region in January totaled $50.0 million, down 34.1% from December’s $75.83 million and down 17.0% when compared with the January 2012 figure. At $50.0 million, 2013 year-to-date is down 17.0% when compared with 2012 at the same time.
Southeast Region: Southeast Region manufacturing technology orders totaled $35.53 million in January, down 47.6% from the $67.84 million total for December but 34.4% higher than the total for January 2012. The year-to-date total of $35.53 million is 34.4% more than the comparable figure for 2012.
North Central-East Region: At $98.54 million, January manufacturing technology orders in the North Central-East Region were down 15.1% when compared with the $116.01 million total for December and down 13.1% when compared with January a year ago. With a year-to-date total of $98.54 million, 2013 is down 13.1% when compared with 2012 at the same time.
North Central-West Region: January manufacturing technology orders in the North Central-West Region totaled $72.41 million, 34.1% lower than December’s $109.92 million and down 4.0% when compared with the January 2012 figure. At $72.41 million, the 2013 year-to-date total is 4.0% less than the comparable figure for 2012.
South Central Region: January manufacturing technology orders in the South Central Region totaled $72.44 million, 8.1% higher than December’s $67.02 million but down 25.8% when compared with the January 2012 figure. At $72.44 million, the 2013 year-to-date total is 25.8% less than the comparable figure for 2012.
Read the full USMTO report from AMT here.
