New orders of manufacturing technology totaled $353.9 million in July 2023, a 12.4 percent decline from June, according to the Association for Manufacturing Technology’s (AMT’s) latest U.S. Manufacturing Technology Orders Report.
July’s orders were 10.5 percent lower than July 2022, and year-to-date orders reached $2.83 billion, which is 12.7 percent lower than this point last year.
“July is typically one of the slower months for manufacturing technology orders, so to be down slightly is not surprising,” AMT President Douglas Woods said. “Manufacturing technology orders have definitely begun to feel the effects of higher interest rates and economic uncertainty, but the buildup of domestic capacity means that there are more diverse sales opportunities than there have been in decades. ...
“That is what has kept manufacturing technology orders well above their historical levels despite the recent downward trend, and it will likely lead the industry out of any mild recession on the horizon.”
