McLean, Va. (October 10, 2022) – New orders of manufacturing technology totaled $460.7 million in August 2022, according to the latest U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology. August 2022 orders were up 16.3% from July 2022 but down 14.5% from August 2021. Total orders in 2022 reached $3.69 billion through August, a 5.3% increase over the first eight months of 2021.
“This is the first increase since March 2022 and the highest order level since April,” said Pat McGibbon, chief knowledge officer at AMT. “As we pointed out in the last release, July and August are typically slower, particularly in the months prior to IMTS in Chicago, the largest manufacturing technology show in the Americas. This increase in order activity was unexpected. While orders are returning to the typical seasonal patterns we expect, they are doing so at a very elevated level.
“Given the success of 2021, I would have expected it to take IMTS to bring the year-over-year numbers back to positive, but finishing August over 5% above last year really bodes well for a stronger-than-expected end to the year,” said McGibbon. “From what I heard on the show floor, this year was maybe one of the best in over 40 years for selling machines right off the floor.
“Despite the positive signs, the last quarter of the year will present a challenge for the industry. Easing of supply chain pressures is not happening symmetrically. Inventories of durable goods components have been increasing steadily since September 2020, while certain supply bottlenecks are holding up the delivery of machines already ordered. We haven’t begun to see any significant increase in cancellations, but long lead times coupled with a potential economic slowdown could pose a threat to sustained order activity in the last quarter of 2022 and into the first half of 2023."
# # #
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