MT Magazine November/December 2023

NOVEMBER/DECEMBER 2023

25

Tragedy or Comedy: The Economic Story in Data BY CHRIS CHIDZIK PRINCIPAL ECONOMIST In July of 2016, orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders (USMTO) Report published by AMT – The Association For Manufacturing Technology, hit a trough. Although this trough wasn’t as deep as the one brought about by the 2008 financial crisis or the one brought about by the COVID recession just four years later, its significance to the present economic situation is becoming more and more apparent.