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Manufacturing technology orders were up 15.9 percent in August 2016 compared to August 2015 and up 34.4 percent compared to July, according to the latest U.S. Manufacturing Technology Orders report from The Association For Manufacturing Technology (AMT).

USMTO data is a reliable leading economic indicator as manufacturing companies invest in capital metalworking equipment to increase capacity and improve productivity. August 2016 manufacturing technology orders were valued at $336.58 million, compared to $250.40 million in July and $290.29 million in August 2015.

“This was the first time since March 2015 that we saw growth in all six regions that we track for this report,” said AMT President Douglas K. Woods. “Much of the growth came from smaller contract machining shops, a sign of greater activity and capacity constraints in larger industries. Automotive and aerospace also made gains after some faltering. These are possible indicators that our market has hit its bottom and is signaling a comeback, albeit slowly.”

Watch more insights on these numbers here:

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