US manufacturing data shows 5.3% growth over 2011
US manufacturing technology orders climbed 5.3 per cent over 2011, a good sign of an economy finally turning the corner, albeit slowly.
October US manufacturing technology orders totalled $459.16 million according to the latest figures from The Association for Manufacturing Technology (AMT). The improving economy is also a good sign for Canada’s manufacturing industry.
This total was down 31.3 per cent from September and down 0.1 per cent when compared with the total of $459.41 million reported in October 2011.
“Orders continue to be on pace for a record-setting year, and a monthly drop was fully expected in the month following IMTS, says Douglas K. Woods, president, AMT. “While manufacturing continues to play a strong role in economic recovery, our main concern heading toward the end of the year is that lawmakers do what’s necessary to avoid the ‘fiscal cliff’ and the implications it could have on the broader economy.”
The US Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, provides US orders data of domestic and imported machine tools and related equipment.
For more details, read the report online.