Aerospace and Electrical-Equipment Manufacturers Finish the Year Strong
January 10, 2024Comments
The soft landing generally experienced by the U.S. economy through 2023 did not affect all sectors of the economy evenly. While November 2023 sales of manufacturing equipment to aerospace manufacturers peaked at 60% above the monthly average compared to the rest of 2023, and electrical-equipment manufacturers also increased orders, overall orders of manufacturing technology were 10.3% lower than those placed in November 2022, and 2% behind orders placed in October 2023. That according to the U.S. Manufacturing Technology Orders Report published by AMT—The Association For Manufacturing Technology. Contract machine shops, the largest consumer of manufacturing technology, decreased their November 2023 orders by nearly 16% from October 2023.
However, while year-to-date orders were off by 13.3% compared to the same period in 2022, several regions and industries saw a late-year rally. The Northeast and South-Central U.S. regions only declined by around 2% from their 2022 totals, virtually flat compared to the steeper declines seen in other regions. The minimal comparative losses in these regions were driven by significant year-over-year growth in orders from aerospace manufacturers. The South-Central region also benefited from significant growth in orders from the automotive sector.
See also: Association for Manufacturing Technology
Technologies: Management
