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Manufacturing Technology Orders Drop in October but Aerospace Investment Rebounds

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Orders for manufacturing technology in October 2024 totaled $385 million, marking a 14.5% drop from September, according to the latest U.S. Manufacturing Technology Orders (USMTO) report from AMT. Year-to-date orders stood at $3.74 billion, down 7.5% compared to the same period in 2023.

While overall orders continued to decline, October’s figures were 3% above the historical average for the month. The decline is seen as a normalization following a surge in demand during the pandemic.

Contract machine shops, the largest buyers of manufacturing technology, reduced their orders by nearly 30% in October, likely due to factors like the presidential election and the Boeing machinists strike, which disrupted the aerospace sector. In contrast, aerospace manufacturers increased their orders to the highest level of the year, signaling a rebound in investment as they replaced and upgraded production technology.

Despite the decrease in orders, the manufacturing sector saw growth, particularly in durable goods production, as highlighted by a strong jobs report. The Federal Reserve's upcoming economic projections, set for Dec. 18, may offer further insights into the sector's trajectory.




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