Orders for machine tool orders slipped in May, both on a monthly and year-over-year basis.
Orders totaled $441.1 million for the month, AMT—The Association for Manufacturing Technology said today in a monthly report.
That was down 14 percent from an adjusted $511 million in April and down 0.9 percent from $445.1 million in May 2021, AMT said.
For the first five months, orders totaled $2.42 billion, a 20 percent gain from the same period in 2021.
“Order activity has begun to moderate, but given the slight decline from record heights, 2022 is shaping up to be one of the best years over the last two decades,” Pat McGibbon, chief knowledge officer at McLean, Va.-based AMT, said in a statement.
“In any other year, numbers like we saw in May 2022 would be one of the high points, but after the run we’ve seen the previous 12 months, the monthly change is more of a return to normal than a dramatic pullback,” McGibbon said.
The AMT official said there are some signs of continuing strength for machine tool orders.
“The impact of the (COVID-19) pandemic on supply chains led to the reinvestment in industries that were nearly shuttered by imports,” McGibbon said.
“Industries like the manufacture of mold and dies, fabricated metal products, screws, and hardware have made expanded capacity well beyond their pre-pandemic levels.” he added. “In addition to securing supply chains from public health disruptions, there may be a renewed push to further reshore production, given the recent dangers to intellectual property outlined by the U.S. and U.K. intelligence agencies.”
The figures are from companies participating in AMT’s U.S. Manufacturing Technology Orders (USMTO) program.
AMT organizes the IMTS trade show held every two years in Chicago. This year’s IMTS event will be the first in four years. The pandemic caused the cancelation of the 2020 edition of IMTS.
"machine" - Google News
July 12, 2022 at 02:46AM
https://ift.tt/utCkU3Y
Machine Tool Orders Slip in May - SME
"machine" - Google News
https://ift.tt/Gfijr49
https://ift.tt/GFDeh3I
Bagikan Berita Ini
0 Response to "Machine Tool Orders Slip in May - SME"
Post a Comment