Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by The Association For Manufacturing Technology (AMT), totaled $343.3 million in February 2024. This was a 2.1% increase from January 2024 but a 26.5% decline from February 2023. Year-to-date orders reached $679.6 million, a decline of 16.9% from the first two months of 2023.
While orders have thus far fallen short of the expectations from the beginning of the year, it is important to remember how good orders were in the first quarter of 2023. Manufacturing technology orders in the first three months of 2023 averaged $455.6 million per month.
