NEW YORK, Aug 31 — Even a robot invasion can’t beat a slowing economy.
“We wouldn’t even consider buying a robot right now,” said Nancy Kleitsch, chief financial officer of ICON Injection Molding, a maker of plastic components in Phoenix. But robots are just one type of equipment companies need, and other gauges of spending have held up somewhat better in the US economy. Orders for non-defence capital goods excluding aircraft — closely watched by economists to track trends in business spending — rose 0.1 per cent last month, according to the Commerce Department, suggesting that investments in a wide array of equipment could continue to grow after rebounding in the second quarter.
“They were worried they wouldn’t get what they needed, so they overbought,” he said. Burnstein added that A3 expects the softness in robot orders to continue until the fourth quarter or early next year.
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