MT Magazine November/December 2023

THE BIG PICTURE

THE ECONOMICS ISSUE

18

U.S. Manufacturing Technology Orders (USMTO) is a statistical program administered by AMT that collects data on the demand for manufacturing technology in the United States, Mexico, and Canada. Comparing USMTO data to industrial production data in past recessions provides interesting insight into what to expect in future downturns.

NET CHANGE IN EMPLOYMENT — BEGINNING TO END OF RECESSION *2016 was not an officially designated recession but very negative for manufacturing.

ALL INDUSTRIES

MANUFACTURING

Recession

Number (Thou)

Percent

Recession

Number (Thou) Percent

2001 2008 2016* COVID

2001 2008 2016* COVID

-1,643 -7,290 3,200 -21,668

-1.24% -5.23% 2.25% -14.22%

-1,293 -2,031 -7 -1,376

-7.10% -4.78% -0.06% -10.76%

Months between the industrial production trough and the the trough of USMTO orders following a recession .

2001 Recession 2008 Recession

Units Value

18 22

6 5

USMTO covers 229 unique manufacturing technologies and provides key insights into the manufacturing technology market.

F THE STATE OF NG MANUFACTURING G

than September 2023. 7

MONTHS since 1985 that industrial production has been higher