July U.S. manufacturing technology orders were $351.21 million, according to AMT - The Association for Manufacturing Technology, which was down 23.6% from June and down 23.6% from $459.44 million in July 2012.
Year-to-date U.S. manufacturing technology orders were $2,925.12 million as of July, down 7.2% from the same time period in 2012.
"This muted order activity is not atypical for summer months, and is concurrent with other monthly readings that indicated a drop in durable goods orders and a flat industrial production index," said AMT President Douglas K. Woods. "Despite this seasonal dip, however, the bigger picture for manufacturing remains positive. It's important to note that in regional USMTO activity, the Northeast and West regions are at their highest average and year-to-date values in 15 years, thanks to the precision parts and aerospace industries. Meanwhile, the PMI posted its third consecutive monthly gain. We anticipate a continued pattern of modest but sustained growth through the end of 2013."
The United States Manufacturing Technology Orders (USMTO) report is compiled by the association, which represents the production and distribution of manufacturing technology. The report provides regional and national U.S. orders data of domestic and imported machine tools and related equipment.
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