The Association for Manufacturing Technology (AMT) reported that new orders of manufacturing technology totaled $467.8 million in February 2023. The number is up 33% from January 2023 and down 1.6% from February 2022. Year-to-date orders totaled $819.6 million, down 10.7% from the first two months of 2022.
Don’t miss any content from Distribution Strategy Group. Join our list.
“This was the third-best February for manufacturing technology orders ever recorded, nearly 50% above the average value for February orders,” said Douglas K. Woods, president of AMT. “Although many had anticipated a recession to take hold at the beginning of 2023, we are not yet seeing that in the data, and while declining somewhat, manufacturing technology orders remain at a historically elevated level.”
Job shop orders maintained their level from January 2023, but the overall activity is down from 2022. The automotive sector, fabricated metal products manufacturers, and railroad, ship and other transportation manufacturers significantly increased their orders in February.
