February 2023 Orders Nearly 50% Above Average for February
New orders of manufacturing technology totaled $467.8 million in February 2023, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. February 2023 orders were 33% above January 2023 and 1.6% below February 2022. Year-to-date orders for 2023 totaled $819.6 million, 10.7% below the first two months of 2022.
“This was the third-best February for manufacturing technology orders ever recorded, nearly 50% above the average value for February orders,” said Douglas K. Woods, president of AMT. “Although many had anticipated a recession to take hold at the beginning of 2023, we are not yet seeing that in the data, and while declining somewhat, manufacturing technology orders remain at a historically elevated level.”