USMTO Shows Technology Orders Up From April Numbers
According to the recently released Unites States Manufacturing Technology Orders report (USMTO), sales in the technology manufacturing sector are up significantly from April numbers, yet still remain much below order numbers reported for this same period during the year 2012. Overall, orders were up 13.6 percent and stood at $430.06 for the month of May, according to the Association for Manufacturing Technology (AMT), which is responsible for the USMTO report.
This number is encouraging as the manufacturing sector enters the summer months, which are typically a soft sales time of year, according to Patrick W. McGibbon, AMT Vice President of Industry Intelligence. This year, several factors are helping drive order numbers up. The automotive manufacturing sector is introducing new technologies, the aerospace manufacturing sector is making changes within their supply chain, and contract machining is up due to the cost advantages of manufacturing within the United States. Also, foreign investments in U.S. manufacturing are bringing in new capital investments to drive manufacturing here.
Though all of this is good news, order numbers are still down 6.9 percent overall when compared with the same period last year. However, USMTO divides the report further into six geographic regions in the U.S., and some regions have fared better than others over the past year.
Though the Northeast was down from April to May this year, their orders went up from the 2012 figures. The Southeast saw a rise from April to May, and remains level from 2012 to 2013. The West saw a rise in orders between April and May 2013, and numbers are also up here from 2012 to 2013. Only the North Central-East region, the North Central-West region and the South Central region saw orders drop significantly between May 2012 and May 2013.
The USMTO report is released monthly, and only includes order numbers for companies participating in the USMTO program.
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