New orders of manufacturing technology totaled $355.6 million in January 2023, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. January 2023 orders were down 17% from December 2022 and down nearly 20% from January 2022. 

“January orders are down, but the decline is consistent with expectations,” said Douglas K. Woods, president of AMT. “Although down, it is worth noting that orders in January 2023 are nearly 17% above what would be expected from a typical January. “After the historic run of orders placed in the last two years, a mild slowdown in new orders could help to reduce the current backlog and put the manufacturing technology industry in a position to deliver machinery with much shorter lead times when economic activity is anticipated to pick up later in the year."