Manufacturing Technology Orders Through February Highest in Two DecadesApril 11, 2022
Manufacturing technology orders totaled $479.3 million in February 2022, according to the latest U.S. Manufacturing Technology Orders Report published by AMT–The Association For Manufacturing Technology. February 2022 orders climbed 9 percent from January and 27 percent compared to February 2021. Year-to-date orders, just shy of $920 million, are up 30 percent year over year and only down 11 percent from the same period in 1998, when orders set a record by surpassing $1 billion in two months.
“The industry seems to be carrying the momentum of 2021 into the beginning of 2022, recording the best start to the year in more than two decades,” says Douglas K. Woods, AMT president.
Strong consumer demand has been a key driving factor behind much of the recent capital investment from manufacturers. “Despite waning consumer sentiment and predictions that spending would soon shift back to services, demand for manufactured products remains at historic levels,” adds Woods.
See also: Association for Manufacturing Technology