McLean, Va. (February 8, 2021) – December orders of manufacturing technology totaled $456.7 million, nearly a 40% increase from November 2020 and a 17.6% increase over December 2019, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The Association For Manufacturing Technology. This is the highest monthly total since November 2018 and the second-straight month of year-over-year gains. Total orders in 2020 were $3.87 billion, a decrease of 15% from 2019.
“In December, the manufacturing technology industry saw growth in all geographic regions of the country as well as across the majority of manufacturing sectors,” said Douglas K. Woods, president of AMT. “Given the reduced holiday schedules of most companies in December, this is particularly striking. The aerospace industry, which has been anemic since the spring due to the collapse of global travel, did significantly better than it has in many months. The November FAA approval of the Boeing 737 Max led to increased capital equipment investments by both small and large companies who had financing dependent upon FAA approval in place for these investments.
“Last spring, industry economic forecasters were predicting a 50% decline in manufacturing technology orders for the year amid U.S. industrial production contracting at a lower annualized rate than any point during the Great Depression. But as 2020 closes, we can now confirm that orders were down only 15% for 2020. Given the strength of December, and with pent up demand, depleted inventories, continued reshoring, several COVID vaccines, and a lot of cash on the sidelines, things bode well for a positive start to 2021.”
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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 is 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 2020 will run Sept. 14-19. 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, 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