Steel Markets
June 10, 2019
U.S. Manufacturing Technology Orders Decline in April
Written by Sandy Williams
Orders for metal cutting machines and metalforming and fabricating machines saw their lowest April rate since 2016. The Association for Manufacturing Technology reports manufacturing technology orders totaled $344.6 million in April, a decline of 16.5 percent from March and 17.6 percent year-over-year. For the first four months of this year, orders were down 11.6 percent compared to the same period in 2018.
A downward trend in technology orders was seen in most industries, with a few exceptions. Orders in the aerospace industry grew by single digits while orders in the automotive industry jumped 30 percent from March. Declines were especially profound in the contract machining sector and the engines and turbines industry. Agriculture technology orders have been in decline since February of this year from tariffs taking a toll on agricultural profits.
