According to a report published by the Association of Manufacturing Technology (AMT), manufacturing technology orders in the U.S. totaled $338 million in January 2024, a decline of 3.7% from January 2023 and 31% from December 2023.
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While January is typically the slowest month for manufacturing technology orders, the value of orders this January was the lowest for the month since 2021. At the same time, the total unit count was the lowest since 2016, which indicates that demand for manufacturing technology continues to be driven by high-value orders of specialized, automated machinery.
At AMT’s Winter Economic Forum, Oxford Economics forecasters predicted U.S. manufacturing technology orders to increase nearly 8% in 2024.
