The Association for Manufacturing Technology (AMT) released the latest U.S. Manufacturing Technology Orders Report, announcing a total amount of $457.7 million in orders in October 2022.
October 2022 orders were down 20% from the prior-year period and down 12% from September 2022.
This is the smallest decline in orders from an IMTS September ever recorded. Orders are nearly even with this point in 2021, roughly $4 million above the year-to-date total in October 2021.
“Although we are reporting a down month and near-flat year-to-date sales, orders for manufacturing technology continue to come in at a near-record pace,” said Douglas K. Woods, president of AMT. “October 2022 was the third-highest October on record. Typically, orders in an October after an IMTS are down 23% from the previous month. Orders are returning to normal seasonal trends, but at an elevated level.”