May U.S. manufacturing technology orders were $430.06 million, according to AMT - The Association For Manufacturing Technology, putting May orders up 13.6% from April 2013 and down 7.6% from $465.38 million in May 2012.
Year-to-date manufacturing technology orders were $2,085.14 million, down 6.9% compared to the same period in 2012.
"A rise in U.S. manufacturing technology orders is welcome as we move into the summer months, which are typically soft. New technologies are creating change in automotive production, while many aerospace manufacturers are making shifts within their supply chains," said Patrick W. McGibbon, AMT Vice President - Industry Intelligence. "Contract machining is also seeing growth thanks to the cost advantages of manufacturing within the U.S. Meanwhile, foreign direct investment within the U.S. continues to increase, and all of these factors are contributing to new capital investment within manufacturing."
The United States Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, provides orders data of domestic and imported machine tools and related equipment. The analysis of the orders is designed to provide a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
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