U.S. Manufacturing Technology Orders (USMTO) continued to expand in July, up 23 percent from July 2016 order levels. The July rate of increase is a notable acceleration in growth relative to the 10 percent increase in June orders posted over the previous year.
The nearly three-year decline in the U.S. manufacturing technology market turned the corner last March with a string of year-over-year improvements in order levels. IMTS 2016 rekindled the market last fall but it was not until March that year-over-year numbers began to consistently show a positive, accelerating trend upwards. At the current expansion rates, manufacturing technology orders are likely to outpace the growth rates analysts forecasted at last October’s Global Forecasting and Marketing Conference hosted by AMT.
“It is encouraging to see the U.S.