(AMT: McLean, VA) -- Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders (USMTO) report published by the Association For Manufacturing Technology (AMT), totaled $385 million in October 2024. These orders for metalworking machinery decreased 14.5% from September 2024 and were 5.5% behind October 2023 orders. Year-to-date orders reached $3.74 billion, a decline of 7.5% compared to the first 10 months of 2023.

Although orders of manufacturing technology are still on a longer-term downward trend, October 2024 orders were 3% above the average value of all Octobers. This downward trend represents a normalization of order activity after a frenzied buying cycle caused by manufacturers grappling with increasing demand and the supply bottlenecks of the Covid pandemic.

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