The Association for Manufacturing Technology (AMT) reported that new orders of manufacturing technology were $365.9 million in May 2023. The number is up 8.6% from April 2023 and down 16.7% from May 2022. Year-to-date orders were $2.1 billion, down nearly 15% from the prior-year period.
“May orders increased but not enough to make up for the record decline we saw in April,” said Douglas K. Woods, president of AMT.
“Job shops increased orders at a slightly faster pace than the general market, but many large consumers of manufacturing technology decreased orders for the second month in a row. Significant growth from typically smaller consumers of manufacturing technology highlights some interesting changes in how and where goods are manufactured, particularly in anticipation of government spending programs.”
Orders from electrical equipment manufacturers are at the highest monthly level of 2023. Construction machinery manufacturers doubled their order volume over April 2023, putting them on pace for the highest order volume since 2012, and hardware, screw, nut, and bolt manufacturers significantly increased orders in May.