Manufacturing Technology Orders Drop 11.5% August Over July
U.S. Manufacturing Technology Orders totaled $297.7 million in August 2020, a decrease of 11.5% from July 2020 and a 21.7% decrease from August 2019, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The Association For Manufacturing Technology. Orders to date reached $2.3 billion, nearly a quarter (24.3%) lower than total orders through the first eight months of 2019.
“Despite a decrease in total orders, more than half of the industries we track experienced month over month increases including appliances, electrical components, and automotive components,” said Douglas K. Woods, president of AMT. “Additionally, it is noteworthy that the average value of units increased from about $143,000 in the spring to $175,000 in late summer. Although this can be caused by different factors—an increase in orders of high-end equipment and/or an increase in margins overall—both are positive news for the industry.”