Posted October 12, 2020

Manufacturing technology orders declined in August

U.S. manufacturing technology orders totaled $297.7 million in August 2020, a decrease of 11.5 percent from July and a 21.7 percent decrease from August 2019.

Orders to date reached $2.3  billion, nearly a quarter (24.3 percent) lower than total orders through the first eight months of 2019, according to the latest U.S. Manufacturing Technology Orders report published by AMT – The Association For Manufacturing Technology.

“Despite a decrease in total orders, more than half of the industries we track experienced month over month increases including appliances, electrical components, and automotive components,” said Douglas K. Woods, president of AMT. “Additionally, it is noteworthy that the average value of units increased from about $143,000 in the spring to $175,000 in late summer. Although this can be caused by different factors—an increase in orders of high-end equipment and/or an increase in margins overall—both are positive news for the industry.”

“Analyst predictions in May were that the industry would be down 50 percent for the year, and currently the industry is tracking closer to 24 percent down for the year. Indicators continue to improve with PMI holding strong at over 50 and capacity utilization experiencing its fourth straight month of improvement. Given the stabilization of prices and the increased demand in so many sectors, we continue to be optimistic that the recovery is moving in the right direction.”