June manufacturing technology orders climbed 6.5% over May, according to a report released by The Association For Manufacturing Technology (AMT). The latest U.S. Manufacturing Technology Orders (USMTO) report also shows a year-over-year increase of more than 10%, the fifth consecutive month posting a year-over-year gain.
The U.S. manufacturing technology market has been weak since oil prices began to drop dramatically in June 2014. Orders peaked on a monthly basis that September at $643 million and bottomed out at $260 million in June 2016. The International Manufacturing Technology Show (IMTS), held in September 2016, rekindled the market, but it was not until March 2017 that year-over-year numbers began to consistently show a positive, accelerating trend upwards. Now, three months later, June figures are up 10% over June 2016 and represent the volume and growth that supports an announcement that the manufacturing technology market is officially expanding.