August Orders of Manufacturing Technology Grow 16.1% From July, Totaling $404.2M
New orders of manufacturing technology totaled $404.2 million in August 2023, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. August orders increased 16.1% from July 2023 but were down 12.2% from August 2022. Year-to-date orders reached $2.23 billion, 12.6% lower than the first eight months of 2022.
“We are seeing industries focused on shorter-term projects reduce their spending, but at the same time, OEMs focused on longer-term production timelines have been increasing their spending, keeping orders at an elevated level,” said Douglas K. Woods, president of AMT. “The net result is that for the third consecutive month, the gap between year-to-date orders in 2022 and 2023 has narrowed, falling from a 14.6% deficit in May to the 12.6% difference we see today.”