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It was a reversion from a March that had seen the first expansion-territory PMI since September 2022.
Search Results for: Manufacturing Technology Orders – Page 3
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After a weak finish to 2023, the industry saw rebounds in monthly orders and shipments in the first two months of 2024.
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Analysis of manufacturing tech orders provides an economic indicator as manufacturing industries invest in equipment to increase capacity.
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Consumption also increased 4.1% year-over-year, rebounding from December's declines.
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By order value, January was the lowest level since January 2021, while the unit count was its lowest since 2016.
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After a strong start to 2023, shipments of cutting tools weakened in the last quarter of the year, falling 7.3% in December year-over-year.
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The Association for Manufacturing Technology said December’s figures outpoerformed “even the best of expectations.”
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January's figure still indicated contraction for a 14th consecutive month, but at a much slower pace than almost all of 2023.
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AMT said aerospace and automotive markets are still working on an impressive backlog and sales that will keep shops busy well into 2024.
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Through November, year-to-date were down 13.3% from the same period in 2022.
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