November 2022 manufacturing technology orders dip below 2021

According to AMT’s latest U.S. Manufacturing Technology Orders report, new orders of manufacturing technology totalled $436.5 million in November 2022, which was a dip of 4.5% from October 2022 and down nearly 32% from November 2021. In addition, for the first time in 2022, year-to-date orders in 2022 dropped 3.7% below the total through November 2021.

“After recording the highest level of orders in 2021, it was only a matter of time before 2022 fell slightly behind,” said Douglas K. Woods, president of AMT. “The fact that orders stayed above 2021 levels for 10 months really speaks to the continued strength in the demand for manufacturing technology. This demand has been spurred by the extraordinary economic challenges of the last few years, which has prompted expanded domestic manufacturing as well as foreign direct investment.”

While job shops remain the largest customer segment, AMT’s report says orders in that sector have continued to decline since peaking in September 2022. Interestingly, the average value of orders from job shops has been increasing, indicating continued demand for the more-automated, higher-value machinery. Order activity in this sector appears driven by application-specific needs rather than expanding capacity.

“Despite some of the slowing orders, a number of our members remain confident in their 2023 projections because of the outstanding orders collected in 2022,” said Woods. “2023 will most likely be a balancing act. The manufacturing that has returned to the country will continue to spur economic activity, which may be tempered by rising interest rates and slowing demand.”

The United States Manufacturing Technology Orders (USMTO) Report is based on the totals of actual data reported by companies participating in AMT’s USMTO program.
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