Report shows continued decline in U.S. manufacturing orders

The U.S. Manufacturing Technology Orders report for July revealed the fourth consecutive month of declines within the manufacturing technology industry, according to the Association of Manufacturing Technology.

AMT compiles the report on a monthly basis and has logged noticeable declines in ordering since April. For the month of July, U.S. manufacturers and machine shops ordered $246.38 million in metal cutting, forming, and fabricating equipment — a 24.8% drop from June.

For the first seven months of 2016, the $2.09 billion in new orders is 16.3% lower than the same period in 2015, according to the report.

AMT President Douglas Woods blamed a “summer slump” owing to “manufacturing’s ongoing challenges from the effects of a strong dollar, weakness in key export markets and a soft oil and gas industry.”

“Manufacturers are feeling cautious about the economy and hesitant to make new investments until they get a better sense of certainty,” Woods added.

The Southeastern United States was the only region to report an increase for July, rising 15% from June and finishing at $40.98 million, a 13.8% increase from July 2015. The January-July total for all MTOs finished at $267.92 million, a 12.1% increase year-to-date.