February U.S. manufacturing technology orders of $354.40 million, according to AMT - The Association for Manufacturing Technology, were down 6.6% from January 2014 and down 6.2% from $377.82 million in February 2013.
With a year-to-date total of $733.82 million, 2014 is down 0.6% compared to the first two months of 2013.
“A soft first quarter was expected for technology orders, and in this case further challenged by a harsh winter,” said AMT President Douglas K. Woods. “Many key industry forecasts indicate growth for manufacturing through the end of the year. With the average age of capital equipment at almost 22 years and interest rates continuing to stay low, the environment is ripe for investment in manufacturing technology.”
to Daily News