The Association for Manufacturing Technology (AMT) reported that new orders of manufacturing technology were $336.7 million in April 2023. The number is down 38.7% from March 2023 and down 34.4% from April 2022. Year-to-date orders were $1.72 billion, down 13.6% from the prior-year period.
“March has traditionally been one of the better months for manufacturing technology orders, so April is typically a down month; however, this April was disproportionately off,” said Douglas K. Woods, president of AMT. “March 2023 was only 2% down from March in the previous year, yet the decline between March and April in 2023 was over five times larger than the decline in 2022. The momentum of order activity is clearly not as strong through the second quarter as it was last year.”
Job shop orders decreased by 39% from March 2023. The automotive sector significantly decreased their orders in April 2023.