The latest survey from the US Association for Manufacturing Technology (AMT) (www.amtonline.org) shows that domestic sales of metal-cutting and metal-forming equipment stood at $304.74 million in February, 10.6% down on January and 14.6% less than in February last year.

This was the second month in a row that sales declined; they have now dropped in four months out of the past five — the exception being December.

AMT president Douglas K Woods said: “US manufacturing is facing some pressure in terms of a stronger dollar and lower capital expenditures from the energy industry, but — taking the long view — we’re still in a good position overall.

“The automotive and aerospace industries continue to be strong performers, and a number of international manufacturers are making significant investments in US production facilities. We project that manufacturing technology orders will gain momentum in the second quarter.”

Meanwhile, the International Monetary Fund has cut its forecast for US economic growth both this year and next to 3.1%. A spokesman said that the USA will remain “the key driver of the global economy” and will “weather the negative impacts of the strong dollar”.

He added: “Consumption — the main engine of growth — has benefitted from steady job creation and income growth, lower oil prices and improved consumer confidence, and the conditions remain in place for a robust US economic performance. In the short term, the main challenge is normalising monetary policy.”