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Bright Outlook Through 2019 for Manufacturing

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Last month, more than 225 advanced manufacturing leaders gathered at AMT's MTForecast, the only market data conference for small and medium-sized manufacturing technology businesses, October 10-12, in Indianapolis, Indiana. (AMT – The Association For Manufacturing Technology owns and operates IMTS – The International Manufacturing Technology Show.)

Eighteen speakers presented economic forecasts, market analysis, technology trends and political forces that point to optimism and opportunity for the manufacturing industry at home and abroad through 2019.

“This was my first time to join an MT Forecast event. I found this to be a good time investment regarding market trends, the business workshops and the networking events. I’ll be back in 2019.”
Alan Levine, Managing Director, Open Mind Technologies USA Inc.

“At MTForecast, attendees gained insight to help them develop their business plans and marketing strategies,” said Pat McGibbon, AMT Vice President – Strategic Analytics. “Two economists agreed that the economic outlook for manufacturing technology will grow between 6 percent and 12 percent in 2019. The biggest surprise is the expected 7 percent growth rate over the next five years for the aerospace industry. Uncertainty about trade remains, but tax reform and policy changes seem to be positively affecting manufacturing, though workforce challenges persist.”

A central theme reiterated throughout the presentations: advanced manufacturing around the world is a growing industry embracing technology changes, which is critical to a healthy American and world economy. The optimistic outlook aligns with the National Association of Manufacturers Outlook Survey, which reported “manufacturers’ optimism peaked this past year at 93.9 percent, the highest year average in history.”

Industry Forecasts

“We find the information at MTForecast to be very helpful in doing one to three-year projections. This information along with what we learn in the field usually paints a pretty detailed picture for us in doing our forecasting.”
Sarah Pierce, Marketing Manager, Belmont Equipment & Technologies
  • Business activity to remain strong through 2018, with an expected 2.9 percent GDP growth, and a 2.2 percent expected GDP growth in 2019.
  • Tax cuts and fiscal stimulus are expected to encourage consumer spending and private investment.
  • Machine tool (MT) orders have increased an expected 16 percent in 2018 and are projected to increase between 6 percent and 12 percent in 2019.

For more information, check out Pat McGibbon's IMTS Winter Economic Outlook webinar on Thursday, December 13, 2019, at 11 a.m., and save the date for MTForecast 2019, October 4-6, Hilton Downtown, Cleveland, Ohio.


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