U.S. manufacturing expertise orders totaled $322.5 million in January, a 12% enhance from the identical month a yr in the past, in line with the U.S. Manufacturing Know-how Orders report revealed Monday by AMT – The Affiliation For Manufacturing Know-how.
It marked the third straight month of year-over-year beneficial properties, a pattern not seen since late 2018. However new orders positioned in January additionally marked a 29% lower from December 2020.
“It’s encouraging to see that January was the third straight month of year-over-year beneficial properties in manufacturing expertise orders,” stated Douglas Ok. Woods, president of AMT. “The decline from December 2020 was anticipated, given the weird power of that month’s orders. January orders had been buoyed by the most important capital tools investments in forming expertise since Might 2019. The automotive sector was notably energetic, as U.S. auto producers are planning exterior physique styling adjustments in 2021 that had been postponed in 2020 as a result of pandemic. The excessive variety of January automotive orders for forming not solely mirrored orders deliberate for 2021, but additionally included orders deliberate for 2020 that had been delayed till 2021.
“One other vibrant spot was the mildew and die sector, which after almost a two-year decline in month-to-month orders, has been rising capability steadily since Might 2020, reflecting the provision chain shifts to home producers. We anticipate that extra actions to scale back provide chain dangers will preserve funding on this sector by means of 2021 and even perhaps be accelerated with President Biden’s government orders to have companies consider provide chains essential to manufacturing capability.”