Orders for manufacturing technology climbed year over year and year to date in November 2017 according to the latest U.S. Manufacturing Technology Orders report from AMT - The Association for Manufacturing Technology. Orders totaled $425.97 million for the month, up 19.0 percent compared to November 2016. At a cumulative total of $4.06 billion for the year, orders were up 9.4 percent compared to the same point in 2016.
"The new tax law is a big victory for manufacturers, who have been fighting for meaningful tax reform for decades," said AMT President Douglas K. Woods. "The lower rates together with expanded expensing provisions and a continued R&D tax credit will increase business confidence and investment at a time when transformative technologies are rapidly changing the landscape for our industry."
With consumer sentiment remaining at strong levels and capacity utilization continuing to move upwards, demand for manufactured goods is expected to stay strong in the coming months. The PMI from the Institute for Supply Management rose to 59.7 in December, the 16th consecutive month where the index has remained above 50, indicating expansion for manufacturing. Meanwhile, the aerospace industry is looking resurgent as new aircraft orders have been announced to go on top of a significant backlog, ramping up that industry's supply chain after two years of contraction.