Manufacturing & The Economy
August U.S. manufacturing technology orders totaled $371.97 million according to the Association for Manufacturing Technology (AMT). This total, as reported by companies participating in the U.S. manufacturing technology orders (USMTO) program, was up 4.9% from July but down 18.1% when compared with the total of $454.19 million reported for August 2012. With a year-to-date total of $3,107.16 million, 2013 is down 8.0% compared with 2012.
“We’re finding many reasons for optimism within the manufacturing economy. In addition to the monthly gain for USMTO, the latest Purchasing Managers Index was at 56.2, its highest reading in more than two years,” said Douglas K. Woods, AMT President. “Because of manufacturing’s international connectivity, we also welcome the improvements seen in the global markets in Europe and Asia. These gains are expected to continue for U.S. manufacturing as we head toward 2014, but all of this hinges on avoiding a government-induced economic derailment.”