Orders of manufacturing technology in the U.S. surpassed $650 million in November 2021, the second-highest monthly total and only the fifth instance monthly orders have exceeded $600 million since the beginning of the program in 1998, according to the latest U.S. Manufacturing Technology Orders Report published by The Association for Manufacturing Technology.
The value of orders was up nearly 14% from October 2021 and more than doubled the value of orders received in November 2020, AMT said.
The year-to-date total topped $5.3 billion, about $340 million shy of becoming the best year in the history of the program, according to the report.
“November orders illustrate continued recovery despite ongoing challenges brought on by the pandemic,” said AMT President Douglas K. Woods. “Tool and die, valve manufacturing, forging and stamping, and hardware — sectors in decline due to decades of outsourcing prior to the pandemic — continued to make a comeback due to reshoring,” Job shops showed a modest decline in dollars spent but a double-digit increase in orders, indicating an industry-wide need for increased capacity.”
Two sectors that show increased orders in November despite “continued challenges” were aerospace and off-road equipment, according to AMT.
The aerospace sector has seen hurdles with flight cancellations and staffing issues that “may dampen any near-term plans to increase fleet sizes.”
“However, despite these disruptions, this sector has nearly doubled its orders from the previous month,” the report states. “Heavy off-road equipment used for agriculture, mining, and construction have also increased by multiples over October 2021, likely due to anticipated interest rate hikes.”