MT Magazine November/December 2023

NOVEMBER/DECEMBER 2023

19

USMTO UNITS ORDERED (12-MONTH MOVING AVERAGE) AND INDUSTRIAL PRODUCTION

5,000

110

INDEX OF INDUSTRIAL PRODUCTION

4,500

4,000

3,500

100

3,000

2,500

2,000

90

1,500

UNITS ORDERED

1,000

500

0.00

80

3/1/11

1/1/17

1/1/10

7/1/13

5/1/12

1/1/03

4/1/01

2/1/21

9/1/21

7/1/99

2/1/14

8/1/17

3/1/18

4/1/15

6/1/16

5/1/19

9/1/14

11/1/01

11/1/15

8/1/10

7/1/06

10/1/11

6/1/02

2/1/07

Recession 3/1/04 10/1/04 5/1/05

7/1/20

8/1/03

9/1/07

12/1/12

2/1/00

4/1/08

9/1/00

6/1/09

6/1/23

11/1/22

4/1/22

12/1/19

11/1/08

10/1/18

12/1/98

12/1/05

Units Ordered

Industrial Production

USMTO data typically responds on a lag compared to industrial production data, with order values dropping first, followed by number of units. This may indicate that purchasers are buying lower-value machines before slowing purchasing altogether.

VALUE OF USMTO ORDERS (12-MONTH MOVING AVERAGE) AND INDUSTRIAL PRODUCTION

$900,000

110

INDEX OF INDUSTRIAL PRODUCTION

$800,000

$700,000

$600,000

100

$500,000

$400,000

$300,000

90

$200,000 VALUE OF ORDERS

$100,000

0

80

3/1/11

1/1/17

1/1/10

7/1/13

5/1/12

1/1/03

4/1/01

2/1/21

9/1/21

7/1/99

8/1/17

2/1/14

3/1/18

4/1/15

6/1/16

5/1/19

9/1/14

11/1/01

11/1/15

8/1/10

7/1/06

10/1/11

6/1/02

2/1/07

5/1/05

7/1/20

8/1/03

9/1/07

3/1/04

12/1/12

2/1/00

4/1/08

9/1/00

6/1/09

6/1/23

11/1/22

4/1/22

12/1/19

11/1/08

10/1/18

12/1/98

12/1/05

10/1/04

Recession

Value of Orders

Industrial Production

hitting their peak. 17

192 192K

MONTHS of decline in the value of USMTO orders since

INCREASE in manufacturing employment since USMTO order value peaked.