Manufacturing Tech Orders Decline Again In May

Orders for manufacturing technology equipment fell again in May according to numbers compiled by the Association for Manufacturing Technology.

The group's monthly report, which tracked companies participating in the U.S. Manufacturing Technology Order program, found that equipment orders totaled $337 million in May, a drop of 13.2 percent compared to April and another monthly decline following the 8 percent decrease between April and March.

Order values were also down 6.2 percent compared to May of 2014; for the first five months of the year, equipment orders declined by nearly 8 percent compared to the same span last year.

AMT officials said many smaller manufacturers were hesitant to make capital expenditures due to a sense of economic uncertainty, and that turmoil in the energy sector and aerospace industry also hurt 2015 numbers.

"We expect the downturn to ease thanks to strong performance in the automotive and medical industries, with industrial production and a stronger PMI also indicating resilience in manufacturing," said AMT President Douglas K. Woods.