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by AMT and all data in the report is based on the totals of actual data re- ported by companies participating in the USMTO program. Manufacturing sector's economic activity continues to expand TEMPE, Ariz.—Economic activity in the manufacturing sector expanded in February, and the overall economy grew for the 106th consecutive month, say the nation's supply executives in the latest Manufacturing ISM Report On Business. The report is based on data compiled from purchasing and supply executives nationwide. The February PMI registered 60.8 per- cent, an increase of 1.7 percentage points from the January reading of 59.1 percent. The New Orders Index regis- tered 64.2 percent, a decrease from the January reading of 65.4 percent. The Production Index registered 62 percent, a decrease compared to the January reading of 64.5 percent. The Supplier Deliveries Index registered 61.1 percent, an increase from the January reading of 59.1 percent. The Prices Index regis- tered 74.2 percent in February, a 1.5 percentage point increase from the Jan- uary reading of 72.7 percent, indicating higher raw materials prices for the 24th consecutive month. Supplier deliveries continued to slow (improving) at a faster rate. Price increases occurred across most industry sectors. The Customers' Inven- tories Index indicates levels remain too low. Capital expenditure lead times im- proved by five days while production material supplier lead times extended four days during the month of February. Manufacturing expanded in February as the PMI registered 60.8 percent, an in- crease of 1.7 percentage points from the January reading of 59.1 percent. This in- dicates growth in manufacturing for the 18th consecutive month at strong levels led by continued expansion in new or- ders, production activity, employment, and inventories, with suppliers continu- ing to struggle delivering to demand. The PMI at 60.8 percent is the highest level of expansion seen since May 2004, when it reached 61.4 percent. A reading above 50 percent indicates that the manufacturing economy is generally expanding? below 50 percent indicates that it is generally contracting. A PMI above 43.2 percent, over a period of time, generally indicates an expansion of the overall economy. The past relationship between the PMI and the overall economy indicates that the average PMI for February (60.8 per- cent) corresponds to a 5.4 percent in- crease in real gross domestic product (GDP) on an annualized basis. US primary aluminum production rate surveyed ARLINGTON, Va.—Based on Alu- minum Association surveys, the annual rate of US primary aluminum produc- tion totaled 796,182 metric tons (tonnes) during February 2018, an increase of 8.2 percent over the February 2017 annual rate of 735,957 tonnes. Compared to the previous month, the annual rate of pro- duction rose 2.4 percent over the January 2018 annual rate of 777,556 tonnes. The year-to-date production rate through February 2018 totaled 786,396 tonnes, up 6.9 percent over the year-to-date 2017 rate of 735,889 tonnes. Actual produc- tion for the month of February 2018 totaled 61,077 tonnes. Participating companies account for 100 percent of US primary aluminum production during February 2018. Global coating equipment market closely examined BOONTON, N.J.—The global coat- ing equipment market was valued at $13.85 billion in 2016 and is projected to reach $22.42 billion by 2025, grow- ing at a compound average growth rate (CAGR) of 5.50 percent from 2017 to 2025. This is according to Global Coat- ing Equipment Market By End Use In- dustry (Automotive & Transportation, In- dustrial, Aerospace), By Type (Liquid Coating Equipment, Specialty Coating Equipment, Powder Coating Equip- ment), By Region (North America, South America, Europe, Asia Pacific, Rest of World), and Regional Market Size, Status, and Forecast to 2025, a report from Key Market Insights, an industrial market re- search firm. Market growth will be dri- ven by increased demand for coating equipment from various end-use indus- tries, such as automotive and transporta- tion, aerospace, industrial, and building and infrastructure. Growing demand for new vehicles and aircraft, rapid in- dustrialization in emerging economies, and increasing acceptance of coating equipment in the building and infra- 34 POWDER COATING, April 2018 US manufacturing technology orders kick off 2018 on a high note MCLEAN, Va.—Orders for manufac- turing technology in January 2018 were up 44 percent compared to January 2017. It was the second-largest January in the 22 years recorded by the USMTO program. Orders totaled $372 million for the month, down 20 percent compared to December. This is according to the As- sociation for Manufacturing Technology (AMT) as reported by companies partic- ipating in the US Manufacturing Tech- nology Orders (USMTO) program. "The large volumes ordered in January were on par with expectations and indica- tive of the capacity expansion we expect US manufacturers to pursue throughout 2018 and well into the next year," said Douglas K. Woods, AMT president. "Globally, market expansion is nearly unprecedented, with the world Purchas- ing Managers' Index on the rise and the US PMI at a 14-year high. Still, growth has its challenges, and this tremendous increase in demand is creating shortages in components worldwide." Every region tracked by USMTO recorded order growth relative to Janu- ary 2017, while only the southcentral re- gion realized a month-over-month gain as it benefitted from strong orders in pri- mary metal products, contract machin- ing, and improvement in oil and gas. The key leading indicators for the man- ufacturing technology market were very strong in December and made signifi- cant improvements in January as well. Capacity utilization remains steady at 76 percent for the manufacturing sector while the industrial production index re- mained at 108. Overall, the indicators point to a strong first quarter for the manufacturing technology market. The USMTO report provides regional and national US orders data of domes- tic and imported machine tools and re- lated equipment. AMT represents and promotes US-based manufacturing technology and its members, including those who design, build, sell, and ser- vice the continuously evolving technol- ogy that lies at the heart of manufactur- ing. The USMTO report is compiled UPDATE: Markets