October Metalworking Orders Outpace September, Slide YoY - Modern Distribution Management

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October Metalworking Orders Outpace September, Slide YoY

The AMT said the U.S. west region saw monthly orders surge 60% from September.
The process of bending sheet metal on a hydraulic bending machine. Metalworking plant.

New orders for metal cutting, forming and fabricating machinery totaled $409.7 million in October, up 4% from September, according to the monthly U.S. Manufacturing Technology Orders Report published by the Association for Manufacturing Technology.

Released Dec. 12, the report said that while monthly orders increased, the yearly total continued to fall. Year-to-date orders through October 2023 totaled $4.05 billion down 13.5% in the first 10 months of 2022.

On the monthly front, AMT said growth was driven by the U.S. west region, where orders surged nearly 60% over September. The south central and southeast regions also saw growth but at a much more modest pace. The northeast and north central-east regions declined by modest single digits, while the north central-west region fell nearly 30% from the value of September’s orders.

AMT said that despite the shuttering of automotive production lines amdi the six-week United Auto Worker’s strike that ended with a tentative labor agreement at the end of the month, auto manufacturers continued to invest in manufacturing technology. 

“Investments by automotive transmission manufacturers increased earlier in the year, but this is the second month in a row where manufacturers of other automotive components have increased investment,” AMT’s report noted.

“Job shops decreased the value of their orders in October while increasing the number of units purchased. This indicates that job shops are purchasing machinery to increase capacity. In contrast, OEMs have been increasing order value at a faster pace than units, suggesting that they are purchasing machinery for a designated purpose. Of these OEMs, manufacturers of household and major appliance manufacturers made their largest investment since September 2018.”

AMT added that manufacturers of engines, turbines and other power transmission equipment have continued their elevated pace of orders, already 8% above the amount invested in 2022.

Click on the charts for a larger version.

Source: The Association for Manufacturing Technology’s October U.S. Manufacturing Technology Orders report.


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