U.S. Manufacturing Technology Orders (USMTO) for January totaled $396 million, marking the second strongest January in the history of the USMTO program. Orders declined 10.5% from December, but at half the average decline in January over December levels since 1998. January 2019 orders grew 5% over January 2018 – an indicator of continued expansion in the market into 2019 after an annual expansion of 19% in 2018.
“January was one of the top two starts to a year in over 22 years of USMTO reporting, signaling that the current expansion is not over,” said Douglas K. Woods, President of The Association For Manufacturing Technology (AMT). “However, the markets in Asia and Europe began contracting in the last third of 2018 which is likely to increase supply in the U.S. The silver lining is that global markets should rebound about the time the U.S. market is expected to begin a short-lived contraction.”