November U.S. manufacturing technology orders totaled $378.06 million according to the Association For Manufacturing Technology (AMT)—down 15.5% from October and down 14.5% when compared with the total of $442.01 million reported for November 2013.
Despite the monthly dip, with a year-to-date total of $4,556.60 million, 2014 is up 2.6% compared with 2013.
“Despite a downward monthly trend in manufacturing technology orders, we remain bullish on the U.S. industry market overall, with robust factory production and strong performance in the automotive sector,” said Douglas K. Woods, AMT President. “Many manufacturers took a ‘pause’ in November to assess the challenges from the previous few months, such as contraction in China, Europe and Russia, less activity from the oil and gas industry due to the dramatic drop in prices and perhaps a little bit of the ‘IMTS Effect’ pulling some sales forward. Overall, however, we anticipate 2015 to be another year of positive growth, with manufacturing leading the U.S. economy.”