U.S. Manufacturing Technology orders fell by about 1% in September as compared to August of 2019. This is only the second time that orders have been down since the data has been tracked. Although overall the sector was down, not every segment of the sector was also down. The aerospace segment was largely flat, and the automotive segment saw an increase in orders. This increase was despite a decrease in automotive transmission and power train orders.
- When comparing manufacturing orders in September to those seen in August, technology orders were down.
- Contract machining orders actually increased, bringing in 40% as opposed to 30% during the last round.
- The fact that spending was up in September in the aerospace industry is promising since it has previously been in a downturn.
“Aerospace orders were flat, machine shops were down modestly, and the automotive sector saw a slight increase despite a decrease in orders in the transmission and powertrain sector.”