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In October 2024, orders of manufacturing technology, as measured by the USMTO report published by AMT, totaled $385 million, showing a 14.5% decrease from September. The decline in orders was attributed to various factors, including uncertainty due to the U.S. presidential election and the Boeing machinists strike. However, aerospace manufacturers increased orders to the highest level of the year, indicating a rebound in that sector.
Despite the overall decrease in orders, the average order value increased in October, suggesting that manufacturers were replacing and expanding technology on production lines. The decline in orders also coincided with the Federal Reserve’s reduction in interest rates, signaling a shift in the economic landscape.
AMT will be hosting the 2025 Winter Economic Forum in January, featuring the latest economic forecasts and insights for the manufacturing industry. The USMTO report, compiled by AMT, provides valuable data on both domestic and imported machine tool orders, serving as a leading economic indicator for the manufacturing sector.
AMT, based in McLean, Virginia, represents U.S.-based providers of manufacturing technology and aims to support innovation and competitiveness in the industry. IMTS, the International Manufacturing Technology Show, organized by AMT, is the premier manufacturing technology event in North America, showcasing the latest advancements in the industry. With over 1.2 million square feet of exhibit space, IMTS attracts visitors from over 110 countries, emphasizing the importance of technological innovation in manufacturing.
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Photo credit www.automation.com
