The Association for Manufacturing Technology reported manufacturing technology orders climbed 10.5% year over year in April 2018, with orders for the year up 22.2% when compared to the same point in 2017. Overall orders totaled $392.97 million in April, down 22.6% compared to an exceptionally strong March total. April orders were the second-strongest month for the year after March.

The U.S. manufacturing economy is showing signs of continued strength, with the latest Beige Book from the Federal Reserve indicating gains for the industry in more than half of Fed bank regions. The most recent PMI for May was at 58.7, its 21st consecutive month to indicate expansion in manufacturing. However, concerns remain regarding the skilled labor shortage and uncertainty surrounding tariffs.

“April’s fall relative to March isn’t a surprise. With many companies ending their fiscal year in March, a push for new equipment investment supercharged the end of the first quarter, which has left April short of March levels for the past 20 years,” said Douglas K. Woods, AMT president. “The remainder of the year is set up for a strong finish. The indicators consistently point to continued expansion of the manufacturing sector, and just as April orders are always lower than March, IMTS has always led to a strong fourth quarter for bookings.”