January Manufacturing Technology Orders Off After a Strong December

Contact: Bonnie Gurney, AMT, 703-827-5277 bgurney@amtonline.org For Release: March 9, 2015 January Manufacturing Technology Orders Off After a Strong December January U.S. manufacturing technology orders totaled $341.17 million according to AMT The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTO program, was down 32.9% from December s $508.57 million and down 4.8% when compared with the total of $358.45 million reported for January 2014. These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTO program. To understand why we saw this drop in orders for January, December 2014 saw a sharp increase in sales. This was driven by many end-of-year orders that had been rushed through in order to qualify for tax rebate provisions that were enacted at the last minute for 2014, said Douglas K. Woods, AMT President. This is evidenced by the comparatively lower average order value seen in December vs. January, meaning that most end-of-year orders were for less expensive, in-stock machines that could be shipped quickly. The decline wasn t unexpected, and we still foresee the manufacturing economy keeping on a stable path. The United States Manufacturing Technology Orders (USMTO) report, compiled by the trade association representing the production and distribution of manufacturing technology, provides regional and national U.S. orders data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity. (more) AMT The Association For Manufacturing Technology 7901 Westpark Drive, McLean, VA 22102 703-893-2900 703-893-1151 fax www.amtonline.org

-2- NOTE: AMT The Association For Manufacturing Technology s intent is to always provide timely and accurate economic reports to our community. For this reason, we are making an adjustment to the USMTO report. Due to a change in survey participants the year over year comparison number for Metal Forming and Fabricating is not an accurate reflection of the data. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level. U.S. manufacturing technology orders are also reported on a regional basis for six geographic breakdowns of the United States. Northeast Region January manufacturing technology orders in the Northeast Region totaled $86.75 million, 2.2% higher than the $84.85 million total for December. Southeast Region At $26.33 million, January manufacturing technology orders in the Southeast Region were off 29.4% when compared with January a year ago. North Central-East Region North Central-East Region manufacturing technology orders in January stood at $93.94 million, down 43.2% from December s $165.54 million but 10.5% higher than the January 2014 total. North Central-West Region With a January total of $57.10 million, North Central-West Region manufacturing technology orders were down 25.5% from December s $76.65 million but up 16.7% from last January. # # # The Association For Manufacturing Technology AMT The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow s Smartforce. AMT owns and manages IMTS The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America. The USMTO report is compiled by AMT and all data in the report is based on the totals of actual data reported by companies participating in the USMTO program. (USMTO data is also available at www.amtonline.org.) ISSN# 10807756

Through 800,000 700,000 600,000 500,000 400,000 300,000 200,000 100,000 0 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 order value 3-month moving average 12-month moving average $ Thousands

Jan 15 (P) Previous Month % Change Year Ago Month % Change YTD 15 (P) YTD 14 (R) % Change YTD National Regional Northeast Southeast North Central-East North Central-West South Central West 332.85 496.35-32.9% 351.15-5.2% 332.85 351.15-5.2% 8.33 12.22-31.9% 7.30 14.1% 8.33 7.30 14.1% 341.17 508.57-32.9% 358.45-4.8% 341.17 358.45-4.8% 84.43 84.16 0.3% 66.55 26.9% 84.43 66.55 26.9% 2.33 0.69 238.8% D D 2.33 D D 86.75 84.85 2.2% D D 86.75 D D 24.28 56.96-57.4% 35.39-31.4% 24.28 35.39-31.4% 2.05 D D 1.88 8.8% 2.05 1.88 8.8% 26.33 D D 37.27-29.4% 26.33 37.27-29.4% 91.84 161.24-43.0% 82.27 11.6% 91.84 82.27 11.6% 2.10 4.30-51.1% 2.76-23.9% 2.10 2.76-23.9% 93.94 165.54-43.2% 85.03 10.5% 93.94 85.03 10.5% 56.43 73.02-22.7% 47.83 18.0% 56.43 47.83 18.0% 0.67 3.62-81.4% 1.11-39.1% 0.67 1.11-39.1% 57.10 76.65-25.5% 48.94 16.7% 57.10 48.94 16.7% 27.29 47.54-42.6% 45.82-40.4% 27.29 45.82-40.4% D 2.51 D 0.11 D D 0.11 D D 50.05 D 45.93 D D 45.93 D 48.58 73.42-33.8% 73.30-33.7% 48.58 73.30-33.7% D D -68.6% D -49.9% D D -49.9% D D -34.2% D -33.8% D D -33.8% $ = millions of dollars P preliminary R revised * percent change greater than 1,000% s may not match due to rounding Note on fields marked D: Due to a change in survey participants the year over year comparison number for Metal Forming and Fabricating is not an accurate reflection of the data. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level.

Net New Orders for U.S. Consumption National Orders (Thousands of Dollars) FABRICATING 2014 JAN 1,821 $358,449 1,756 $351,150 65 $7,299 2014 FEB 1,977 $357,861 1,923 $347,286 54 $10,575 2014 MAR 2,452 $492,937 2,379 $480,035 73 $12,902 2014 APR 2,210 $390,727 2,146 $366,588 64 $24,139 2014 MAY 2,164 $360,137 2,104 $352,995 60 $7,143 2014 JUN 2,267 $411,586 2,202 $400,051 65 $11,535 2014 JUL 2,072 $358,979 2,007 $349,933 65 $9,046 2014 AUG 2,143 $362,066 2,081 $352,867 62 $9,199 2014 SEP 3,486 $642,484 3,430 $634,362 56 $8,122 2014 OCT 2,440 $453,523 2,377 $440,740 63 $12,783 2014 NOV 2,130 $381,117 2,065 $372,679 65 $8,438 2014 DEC 2,761 $508,573 2,686 $496,351 75 $12,222 2015 JAN 1,637 $341,172 1,583 $332,846 54 $8,326 Average 2,274 $416,893 2,211 $405,991 63 $10,902 REGIONAL Northeast Region (Thousands of Dollars) FABRICATING 2014 JAN 329 D 324 $66,549 5 D 2014 FEB 332 $63,904 319 $61,834 13 $2,071 2014 MAR 394 $68,432 383 $66,087 11 $2,345 2014 APR 387 $63,049 381 $60,541 6 $2,508 2014 MAY 348 D 340 $56,745 8 D 2014 JUN 352 $61,635 342 $59,328 10 $2,307 2014 JUL 339 D 332 $51,263 7 D 2014 AUG 398 $61,241 387 $59,246 11 $1,996 2014 SEP 583 $116,708 573 $112,811 10 $3,898 2014 OCT 348 D 345 $58,996 3 D 2014 NOV 334 D 322 $41,512 12 D 2014 DEC 511 $84,847 504 $84,160 7 $687 2015 JAN 297 $86,753 287 $84,427 10 $2,326 Average 381 $68,216 372 $66,423 9 $1,793 Note on fields marked D: Due to a change in survey participants the year over year comparison number for Metal Forming and Fabricating is not an accurate reflection of the data. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level.

Net New Orders for U.S. Consumption Southeast Region (Thousands of Dollars) FABRICATING 2014 JAN 189 $37,271 177 $35,387 12 $1,884 2014 FEB 205 D 201 $29,436 4 D 2014 MAR 247 D 243 $37,810 4 D 2014 APR 252 D 248 $43,944 4 D 2014 MAY 232 $32,413 222 $31,120 10 $1,293 2014 JUN 232 D 223 $30,383 9 D 2014 JUL 199 D 195 $30,091 4 D 2014 AUG 240 D 237 $41,481 3 D 2014 SEP 388 D 387 $67,769 1 D 2014 OCT 245 $35,705 233 $31,295 12 $4,410 2014 NOV 287 $51,115 275 $50,033 12 $1,082 2014 DEC 323 D 319 $56,958 4 D 2015 JAN 182 $26,331 171 $24,282 11 $2,049 Average 248 $40,476 241 $39,230 7 $1,246 North Central-East Region (Thousands of Dollars) FABRICATING 2014 JAN 443 $85,032 418 $82,267 25 $2,765 2014 FEB 458 $83,536 444 $80,116 14 $3,419 2014 MAR 666 $200,412 634 $192,971 32 $7,442 2014 APR 468 $98,416 447 $81,344 21 $17,072 2014 MAY 480 $80,428 460 $78,438 20 $1,990 2014 JUN 600 $118,685 584 $115,502 16 $3,183 2014 JUL 485 $92,894 463 $89,467 22 $3,427 2014 AUG 511 $91,315 486 $86,339 25 $4,977 2014 SEP 760 $134,350 733 $132,008 27 $2,342 2014 OCT 604 $124,443 591 $121,637 13 $2,807 2014 NOV 432 $95,739 412 $91,955 20 $3,784 2014 DEC 704 $165,538 686 $161,241 18 $4,297 2015 JAN 436 $93,945 421 $91,842 15 $2,103 Average 542 $112,672 521 $108,087 21 $4,585 Note on fields marked D: Due to a change in survey participants the year over year comparison number for Metal Forming and Fabricating is not an accurate reflection of the data. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level.

Net New Orders for U.S. Consumption North Central-West Region (Thousands of Dollars) FABRICATING 2014 JAN 314 $48,940 299 $47,832 15 $1,108 2014 FEB 337 $57,285 326 $55,733 11 $1,552 2014 MAR 432 D 422 $67,892 10 D 2014 APR 372 $65,973 356 $63,993 16 $1,980 2014 MAY 383 $56,600 371 $54,437 12 $2,163 2014 JUN 429 $84,108 411 $80,835 18 $3,272 2014 JUL 380 D 366 $61,486 14 D 2014 AUG 375 $68,088 365 $67,552 10 $536 2014 SEP 662 $133,420 653 $132,085 9 $1,335 2014 OCT 451 $94,024 439 $92,112 12 $1,913 2014 NOV 408 $68,592 401 $67,496 7 $1,096 2014 DEC 456 $76,647 439 $73,025 17 $3,622 2015 JAN 316 $57,100 309 $56,426 7 $674 Average 409 $72,486 397 $70,839 12 $1,647 South Central Region (Thousands of Dollars) FABRICATING 2014 JAN 234 $45,926 227 $45,815 7 $111 2014 FEB 308 D 303 $65,435 5 D 2014 MAR 333 D 321 $62,084 12 D 2014 APR 356 $62,166 347 $61,099 9 $1,067 2014 MAY 369 D 360 $75,283 9 D 2014 JUN 305 $58,715 296 $58,561 9 $154 2014 JUL 321 $64,883 308 $63,754 13 $1,129 2014 AUG 295 D 288 $47,551 7 D 2014 SEP 496 D 490 $97,739 6 D 2014 OCT 362 D 343 $66,313 19 D 2014 NOV 291 $63,752 278 $62,277 13 $1,475 2014 DEC 307 $50,053 281 $47,542 26 $2,511 2015 JAN 136 D 131 $27,285 5 D Average 316 $61,013 306 $60,057 11 $956 Note on fields marked D: Due to a change in survey participants the year over year comparison number for Metal Forming and Fabricating is not an accurate reflection of the data. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level.

Net New Orders for U.S. Consumption West (Thousands of Dollars) FABRICATING 2014 JAN 312 D 311 $73,299 1 D 2014 FEB 337 D 330 $54,733 7 D 2014 MAR 380 D 376 $53,191 4 D 2014 APR 375 D 367 $55,667 8 D 2014 MAY 352 D 351 $56,972 1 D 2014 JUN 349 D 346 $55,442 3 D 2014 JUL 348 D 343 $53,873 5 D 2014 AUG 324 D 318 $50,698 6 D 2014 SEP 597 D 594 $91,950 3 D 2014 OCT 430 D 426 $70,388 4 D 2014 NOV 378 D 377 $59,406 1 D 2014 DEC 460 D 457 $73,425 3 D 2015 JAN 270 D 264 $48,584 6 D Average 378 $62,146 374 $61,356 4 $790 Note on fields marked D: Due to a change in survey participants the year over year comparison number for Metal Forming and Fabricating is not an accurate reflection of the data. We have adjusted the data for the past 12 months to take this change into consideration. The new chart reflects a consistent year over year comparison of the data at the current participation level.