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April Manufacturing Technology Orders Surpassed Half a Billion Dollars

April 2022 orders of manufacturing technology totaled $513.4 million, the second month in a row surpassing half a billion dollars, according to the latest U.S. Manufacturing Technology Orders Report published by AMT.
Jun 13, 2022

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McLean, Va. (June 13, 2022) – April 2022 orders of manufacturing technology totaled $513.4 million, the second month in a row surpassing half a billion dollars, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. April orders decreased nearly 7% from March 2022 but were 27.5% larger than April 2021. 2022 orders through April totaled $1.9 billion, a 27% increase over the first four months of 2021.

“Despite these strong results, there’s clearly been a lot of news related to declining consumer sentiment, everything from inflation to high interest rates to the war in Ukraine,” said Douglas K. Woods, president of AMT. “While consumer sentiment has been low since April 2021, consumer demand continues to hit record highs, leveraging consumers’ amassed savings as well as large capital investment pools looking for high-value market opportunities.

“April USMTO numbers reflect ongoing consumer spending, particularly fueled by demand for manufactured goods, such as aerospace and other capital-heavy industries,” Woods continued. “Based on available economic projections, we had anticipated orders to gradually soften through the middle of the year. However, that pullback has not happened, and signs point to above-average orders for manufacturing technology into the beginning of the summer.

“When supply chain issues are minimized, the continued pace of consumer-driven demand could necessitate additional capacity, prolonging a potential slowdown in the industry.”

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The United States Manufacturing Technology Orders (USMTO) Report is based on the totals of actual data reported by companies participating in the USMTO program. This report, compiled by AMT – The Association For Manufacturing Technology, provides regional and national U.S. orders data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.

AMT – The Association For Manufacturing Technology represents U.S.-based providers of manufacturing technology – the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, VA, near the nation’s capital, AMT acts as the industry’s voice to speed the pace of innovation, increase global competitiveness, and develop manufacturing’s advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, AMT offers its members an unparalleled level of support. AMT also produces IMTS – The International Manufacturing Technology Show, the premier manufacturing technology event in North America. www.amtonline.org

IMTS – International Manufacturing Technology Show - The largest and longest-running manufacturing technology trade show in the United States is held every other year at McCormick Place in Chicago, Ill. IMTS 2022 will run Sept. 12-17. IMTS is ranked among the largest trade shows in the world. Recognized as one of the world’s preeminent stages for introducing and selling manufacturing equipment and technology as well as connecting the industry’s supply chain. IMTS attracts visitors from every level of industry and more than 117 countries. IMTS 2018 was the largest in number of registrations (129,415), net square feet of exhibit space (1,424,232 sq. ft.), booths (2,123) and exhibiting companies (2,563). IMTS is owned and managed by AMT – The Association For Manufacturing Technology. www.IMTS.com

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Author
Christopher Chidzik
Principal Economist
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