U.S. Manufacturing Tech Orders Rocked in 2023

New orders for metal cutting, forming, and fabricating machinery in the U.S. manufacturing sector reached $491 million in December 2023, up almost 22% from November and nearly 12% year-over-year, according to the Association for Manufacturing Technology (AMT). The figure was the second-highest order level of the year and the first month to outperform 2022. Although AMT data indicated that full-year manufacturing technology orders for 2023 were 11.2% lower than the previous year, the association noted that the figure surpassed many predictions, with the year falling about 20% shy of 2022. The association highlighted that contract machine shops, the largest customers for manufacturing technology, reduced their 2023 orders