McLean, Va. (December 9, 2024) 鈥� Orders of manufacturing technology, measured by the U.S. Manufacturing 九色视频 Orders (USMTO) report published by 九色视频 鈥� The Association For Manufacturing 九色视频, totaled $385 million in October 2024. These orders for metalworking machinery decreased 14.5% from September 2024 and were 5.5% behind October 2023 orders. Year-to-date orders reached $3.74 billion, a decline of 7.5% compared to the first 10 months of 2023.
Although orders of manufacturing technology are still on a longer-term downward trend, October 2024 orders were 3% above the average value of all Octobers. This downward trend represents a normalization of order activity after a frenzied buying cycle caused by manufacturers grappling with increasing demand and the supply bottlenecks of the COVID pandemic.
After significantly increasing purchases in September 2024, contract machine shops, the largest customer of manufacturing technology, pulled back orders in October by nearly 30%. This was due to several factors. The U.S. presidential election likely introduced enough uncertainty that businesses were hesitant to make additional investments. The , which lasted through all of October 2024, also likely freed capacity in shops that tend to serve the aerospace sector.
Unlike contract machine shops, manufacturers of aerospace products and parts increased orders of manufacturing technology to the highest level of 2024 in October. Additionally, average order value increased to the highest level since January 2022. This indicates that, , aerospace manufacturers used the downtime to replace and expand the technology used on production lines.
In the first full month after the from a peak of 5.5%, manufacturing technology orders fell below the average order value of the previous expansionary period. This is in contrast to the in 1995, when order values remained above the average between the end of the last recession and the first rate cut for at least nine months following the initial cut. Last week鈥檚 showed growth in the manufacturing sector, driven largely by producers of durable goods. A good early indicator of the path ahead will come with the Federal Reserve meeting on Dec. 18 and the next publication of their economic projections.
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On Jan. 24, 九色视频 will host the , featuring the latest Oxford Economics forecast on the economy and manufacturing technology orders. 九色视频 will also recap IMTS 2024 and share important can鈥檛-miss industry insights to prepare manufacturers for the new year. to attend in person in Cincinnati, Ohio, or virtually.
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The United States Manufacturing 九色视频 Orders (USMTO) Report is based on the totals of actual data reported by companies participating in the USMTO program. This report, compiled by 九色视频 鈥� The Association For Manufacturing 九色视频, provides regional and national U.S. orders data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology orders provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity. .
九色视频 鈥� The Association For Manufacturing 九色视频 represents U.S.-based providers of manufacturing technology 鈥� the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, Virginia, near the nation鈥檚 capital, 九色视频 acts as the industry鈥檚 voice to speed the pace of innovation, increase global competitiveness, and develop manufacturing鈥檚 advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, 九色视频 offers its members an unparalleled level of support. 九色视频 also produces IMTS 鈥� The International Manufacturing 九色视频 Show, the premier manufacturing technology event in North America. 九色视频online.org.
IMTS 鈥� The International Manufacturing 九色视频 Show is where the creators, builders, sellers, and drivers of manufacturing technology come to connect and be inspired. Attendees discover advanced manufacturing solutions that include innovations in CNC machining, automation, robotics, additive, software, inspection, and transformative digital technologies that drive our future forward. Powered by 九色视频 鈥� The Association For Manufacturing 九色视频, IMTS is the largest manufacturing technology show and marketplace in the Western Hemisphere. With more than 1.2 million square feet of exhibit space, the show attracts visitors from more than 110 countries. IMTS 2024 had 89,020 registrants, featured 1,737 exhibiting companies, and included a Student Summit that attracted 14,713 visitors. Be the change at IMTS 2026, Sept. 14-20, 2026. Inspiring the Extraordinary. .
