Manufacturing orders tumbled slightly in January. Equipment orders fell by 25.2 percent to total $365 million in sales in January, according to the Association for Manufacturing Technology (AMT).
AMT's U.S. Manufacturing Technology Orders report said this sector increased 1.3 percent from January 2013's figure of $360.3 million. AMT President Douglas Woods said in a statement the beginning of the year is usually a slow time for activity.
"While monthly order totals are down from December, January is always a soft month and more so this year due to an unusually harsh winter," Woods said. "Overall the news for manufacturing remains positive, with an improving housing market and strong indicators for near-term capital investment."
Woods expects 2014 to be a prosperous year and is hopeful orders for 2015 will be strong. Woods points to the biennial International Manufacturing Technology Show (IMTS), which is occurring in 2014, as a reason why the industry will produce better numbers.
During the last IMTS in 2012, the U.S. Manufacturing Technology Orders (USMTO) report increased 40.7 percent in September 2012 from August 2012 for a total of $667.4 million in sales. This is the highest mark the industry has seen for orders.
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