Orders Cool from Fabulous September, Cap Largest 3-Month Total in 20 Years
Manufacturing technology orders totaled $467 million in October, capping a three-month total of $1.6 billion since August. That sum represents the largest three-month total since April 1998. The $4.5 billion year-to-date sum is up an impressive 24 percent from the same 10 months in 2017 and bodes well for a strong finish to 2018. The three-month run overshadowed the 23 percent decline in October orders from September and slim two percent increase over October last year.
“IMTS always creates a September jump in orders but the strength of October and August punctuates that the market is buying for current capacity need, not speculation on future business,” said AMT President Doug Woods. “Right now, manufacturing technology orders are rapidly expanding without apparent concern for trade issues or evolving market conditions because our customers face enormous opportunities now.”