Manufacturing Technology Orders Soften in May, but Remain at Elevated PaceJuly 12, 2022
Orders of manufacturing technology dipped slightly in May to $441.2 million, according to the latest U.S. Manufacturing Technology Orders Report published by AMT–The Association For Manufacturing Technology. May orders were down 14 percent from April, but nearly equal to May 2021 orders with a modest 1%percent decline. Year-to-date orders reached $2.42 billion, a 20-percent increase over 2021 orders through May.
“Order activity has begun to moderate, but given the slight decline from record heights, 2022 is shaping up to be one of the best years over the last two decades,” says Pat McGibbon, chief knowledge officer at AMT. “In any other year, numbers like we saw in May would be one of the high points, but after the run we’ve seen the previous 12 months, the monthly change is more of a return to normal than a dramatic pullback.
“The impact of the pandemic on supply chains led to the reinvestment in industries that were nearly shuttered by imports,” McGibbon adds. “Industries like the manufacture of mold and dies, fabricated metal products, screws, and hardware have made expanded capacity well beyond their pre-pandemic levels.”
See also: Association for Manufacturing Technology