July US manufacturing technology orders totaled $318.33 million according to AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 11.8 percent from June’s $361.03 million and down 11.1 percent when compared with the total of $358.11 million reported for July 2014. With a year-to-date total of $2,483.59 million, 2015 was down 8.7 percent when compared with 2014.
“The mood among manufacturers right now is best described as ‘caution cubed’ – concerns around disruption in China, a drop in some key economic indicators like PMI and housing starts, and softening in large customer industries, including agriculture and energy,” said AMT President Douglas K. Woods. “Additionally, consumer confidence dropped in July, and the situation in Europe first with the Greek bailout and now the large influx of refugees is creating added uncertainty. Given all of that, it’s no surprise that manufacturers are wary about making large investments in capital equipment.”Related Articles: