December 2022 Manufacturing-Technology Orders SlideFebruary 13, 2023
December 2022 orders of manufacturing technology were down 1.7 percent from November 2022 and down 27 percent from December 2021, according to the latest U.S. Manufacturing Technology Orders Report published by AMT—The Association For Manufacturing Technology. “For yet another month in 2022, and now for the whole year, we can report that while orders were down, the manufacturing technology industry is doing great,” says Patrick W. McGibbon, chief knowledge officer at AMT. “The industry recorded its third-best year in 2022. The recession that pundits have been predicting is now being termed a ‘rolling recession,’ where some industries grow while others contract at different rates.”
The continued demand for capacity from domestic manufacturers was a critical driver in the success of 2022. Machine shops generally account for the largest share of orders in a given month, and their level of investment can be seen as a leading indicator of economic conditions. While they have modestly decreased orders from 2021 levels, the report notes, machine shops still are nearly 23 percent over their 2019 order levels. Likewise, agricultural-machinery manufacturers decreased orders in 2022 after a dramatic increase in 2021; however, 2022 orders are more than double their 2019 levels. Investment from the aerospace sector is situated for growth in 2023.
See also: Association for Manufacturing Technology