According to the latest U.S. Manufacturing Technology Orders report published by AMT – The Association for Manufacturing Technology, orders of manufacturing technology totaled $291.9 million in July 2022. Orders in July 2022 were down 6.1% from June 2022 and down 14.3% from July 2021. However, manufacturing technology is at $3.22 billion for 2022, up 8.7% from the prior-year period.
Don’t miss any content from Distribution Strategy Group. Join our list.
“While July 2022 is down compared to July 2021, orders in both years were quite above what would be seen in a typical year,” said Douglas K. Woods, president of AMT. “Last year was the best on record and was particularly fueled by strong orders in the last third of the year, so it will be hard to match. However, given that orders are already nearly 9% over 2021, and with the typical boost to orders from IMTS, it appears possible to come close.”
Orders placed by most motor vehicle manufacturing industries pulled back significantly in July after an outsized June order causing the decrease in sales in July. Orders have benefited from the increase in spending from the aerospace industry. Also, orders have benefited heavily from recent foreign direct investment, particularly in the manufacture of chips and batteries.