AMT Reports Growth in US Manufacturing Technology Orders
MCLEAN, VA—U.S. Manufacturing Technology Orders totaled $437.9 million, an increase of 41.6 percent over March 2020, according to the latest U.S. Manufacturing Technology Orders report published by AMT–The Association For Manufacturing Technology. Total orders for 2021 reached $1.1 billion, almost one-third above the total orders in the first quarter of 2020.
“It is noteworthy that total orders in the first quarter were significantly higher than total orders in Q1 2020, given the strength of the first three months of 2020, when the pandemic had not yet affected the industry,” says Douglas K. Woods, president of AMT. “And while these are certainly impressive numbers, they should have been even higher when looking at Oxford Economics’ prediction that U.S. GDP could have been 9.2 percent had inventories been at their normal levels versus the 6.4 percent actually achieved for Q1 2021. The good news is they predict that Q2 2021 growth will likely be upwards of 12 percent.”