April Orders Lowest Since January ‘21June 12, 2023
New orders of manufacturing technology in April 2023 declined 38.7 percent from March 2023 orders and declined 34.4 percent from April 2022 orders, according to the latest U.S. Manufacturing Technology Orders Report published by AMT–The Association For Manufacturing Technology. Year-to-date orders are 13.6 percent below the same period in 2022.
Job shops, the largest customer segment, decreased their orders by just under 39 percent, declining slightly more than the overall market from March to April. This is the largest monthly decline in orders from job shops since January 2017. In addition to job shops, the automotive sector significantly reduced its orders in April 2023 after an exceptional uptick in March.
Says Douglas K. Woods, president of AMT: “Consistently high interest rates, ongoing inflation, and the looming threat of a recession have caused businesses to rethink their capital-investment strategies. Job shops—mostly small and medium-sized businesses—are particularly affected by price and interest-rate pressures.”
See also: Association for Manufacturing Technology