Machine Tool Orders Dip 14% in May
Orders for machine tool orders slipped in May, both on a monthly and year-over-year basis. But orders for the first five months are running stronger than a year earlier.
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“The automotive industry is in transition, but perhaps not the type of transition that many analysts, forecasters, and company executives expected,” writes Mike Ramsey, analyst for Gartner Inc.
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Manufacturing employment increased in June, with most of the gain in non-durable goods. Within durable goods, the main gainer was transportation equipment, up 7,200 jobs.
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The U.S. manufacturing economy slowed in June, with new orders going into negative territory, the Institute for Supply Management reported.
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Connection systems are vital to the auto industry as adoption of electric vehicles increases along with connectivity, cameras, sensors, and high-end computing, according to Lear Corp.
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May 2022 U.S. cutting tool consumption totaled $175.4 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association for Manufacturing Technology. That was down on a monthly basis but higher on a year-over-year basis.
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Boeing Co. said it delivered a 737 Max aircraft to Ethiopian Airlines, CNN said. It was the first time the carrier accepted delivery of a 737 Max since a 2019 crash that killed 157 people. It was one of two fatal crashes that spurred the grounding of the model.
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