November Technology Orders Boomed, Due in Large Part to ReshoringJanuary 10, 2022
Orders of manufacturing technology surpassed $650 million in November 2021, according to the latest U.S. Manufacturing Technology Orders Report published by AMT–The Association For Manufacturing Technology, the second highest monthly total and only the fifth time monthly orders have exceeded $600 million since the beginning of the program in 1998. The value of orders climbed nearly 14 percent from October 2021 and more than doubled the value of orders received in November 2020. The year-to-date total topped $5.3 billion, some $340 million short of becoming the best year in the history of the program.
“November orders illustrate continued recovery despite ongoing challenges brought on by the pandemic,” says AMT president Douglas K. Woods. “Tool and die, valve manufacturing, forging and stamping, and hardware–sectors in decline due to decades of outsourcing prior to the pandemic–continue to make a comeback due to reshoring.”
Two primary sectors identified in the latest report that show increased orders despite continued challenges are aerospace, which has nearly doubled its orders from the previous month, and offroad equipment used for agriculture, mining and construction.
See also: Association for Manufacturing Technology