Manufacturing & The Economy
December U.S. manufacturing technology orders totaled $499.43 million according to The Association for Manufacturing Technology (AMT). This total, as reported by companies participating in the USMTO (United States Manufacturing Technology Orders) program, was up 17.8% from November but down 9.4% when compared with the total of $550.99 million reported for December 2011. With a year-end total of $5,705.58 million, 2012 was up 2.6% compared with 2011.
“Finishing 2012 with the highest order total in 13 years certainly confirms the renaissance of U.S. manufacturing,” said Douglas K. Woods, AMT President. “This also shows the resilience of the industry in the face of GDP contraction in the fourth quarter, along with fiscal and political concerns that have been overshadowing much of the general economy.”
The 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.