The latest US Manufacturing Technology Orders report from AMT – The Association For Manufacturing Technology – shows that orders for April 2016 were down 27.5 percent compared to the same month last year. Year to date, orders are down 16.6 percent compared to the same point in 2015. “The current conditions for manufacturing technology providers are a reflection of larger stagnation in manufacturing and the overall economy – some industries are performing well, and others
are struggling,” said AMT president Douglas K. Woods. “Automotive and aerospace, which mitigated the market decline for the last 15 months of the current downturn, continue to hold their own but they aren’t growing. “Some industries are growing, such as consumer electronics, firearms, and medical, but those represent only 12 percent of our overall market. Weakness continues in the oil and gas and construction/off-road industries.” Industry forecasters, he added, continue to anticipate an upswing in business in the fourth quarter. However, the current market downturn was more than was expected. AMT member companies report strong levels of quotation activity, but longer conversion rates for order placement. Manufacturing companies are resistant to make investments in capital equipment out of a sense of caution. April 2016 manufacturing technology orders were valued at $284.1-million, compared to $391.69-million in April 2015. Monthly orders dropped 25.5 percent compared to March 2016. Year to date, total orders stand at $1,230.94-million, compared to $1,476.42-million at the same point the previous year.