Fourth quarter orders for machine tools and metalworking equipment totaled $1.6 billion, the highest total since 1998.
The huge quarter brings the year to date number in 2018 to $4.5 Billion, a 24 percent increase over 2017. According to reports from the Association for Manufacturing Technology, the huge number comes despite a month-to-month decline from September to October. They attributed the increase to more spending in various industries, including off-road and highway construction, power generation, aerospace and medical.
According to the report, the AMT believes the increase in orders are due to current need and not speculation on the future state of the industry.