The Association for Manufacturing Technology reported manufacturing technology had the strongest first quarter in more than two decades with orders totaling $1.47 billion, 26.5% higher than the first quarter of 2021 and the highest first quarter since 1998.
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According to the latest U.S. Manufacturing Technology Orders Report, monthly orders surpassed half a billion dollars for the first time, totaling $552.3 million in March. March orders were also 15.2% higher than February orders.
“The first quarter of 2022 has been extremely impressive for manufacturing technology orders. Previous forecasts had predicted a strong beginning to 2022 and a soft summer, which would rebound by IMTS in September, as summer orders are often delayed in anticipation of new products being exhibited at IMTS. However, inflation, the war and saber-rattling in the east are creating a level of uncertainty and risk that businesses must consider. Despite these challenges, we see the manufacturing sector continuing to invest in additional capacity,” AMT Chief Knowledge Officer Pat McGibbon said.
Ian Heller is the Founder and Chief Strategist for Distribution Strategy Group. He has more than 30 years of experience executing marketing and e-business strategy in the wholesale distribution industry, starting as a truck unloader at a Grainger branch while in college. He’s since held executive roles at GE Capital, Corporate Express, Newark Electronics and HD Supply. Ian has written and spoken extensively on the impact of digital disruption on distributors, and would love to start that conversation with you, your team or group. Reach out today at iheller@distributionstrategy.com.