New orders for machine tools totaled $319.7 million, prompting AMT to observe, the “July rate of increase is a notable acceleration in growth relative to the 10% increase in June orders posted over the previous year.”
New orders for machine tools totaled $319.7 million during July according to the Assn. for Manufacturing Technology, proof of continuing growth in the U.S. manufacturing sector. The total value is well below the June new-order value (-19.3%) but continues to outpace the year-ago (+22.7%) and year-to-date (+10.1) values. “The July rate of increase is a notable acceleration in growth relative to the 10% increase in June orders posted over the previous year,” AMT commented.
“It is encouraging to see the U.S. manufacturing markets and the economy improving, especially when the European and Asian markets are not doing as well,” stated Doug Woods. “AMT is excited about the prospects for 2017 and the possibilities in 2018, particularly if Washington takes steps to address tax reform and infrastructure spending.”