U.S. machine tool orders start 2015 with a big, but not unexpected fall in January.
Machine shops and other manufacturers ordered $341.17 million worth of new machine tools during the month, a drop of 32.9% from December, and -4.8% off the total for January 2014.
The falloff of orders is typical as manufacturers look to record capital purchases within the expiring tax year. But the totals do add to a trend of slowing demand exhibited throughout much of the last year.
The index is seen as a way to measure confidence of manufacturing businesses, based on their business volumes and expansion plans.
More about the U.S. Manufacturing Technology Orders report from AMT on American Machinist.
American Machinist is an NED companion site within Penton’s Manufacturing & Supply Chain Group.