(AMT: McLean, VA) -- Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders (USMTO) report published by AMT (the Association for Manufacturing Technology), totaled $360.8 million in August 2024. These orders for metalworking machinery increased 22.7% from July 2024 but fell 12% short of August 2023 orders. Year-to-date orders reached $2.81 billion, a decline of 11.5% compared to the first eight months of 2023.

While orders continue to lag behind those placed in 2023, the level of order activity remains above historic levels. August 2024 orders are 3.8% above those placed in a typical August. This trend indicates the industry is still undergoing a period of normalization following the Covid disruptions, rather than a true decline. Historically elevated capacity utilization rates across durable goods manufacturers indicate a very real need for additional investment in manufacturing technology.

 …