Even a robot invasion can't beat a slowing economy.
Companies in North America sharply cut orders for the high-tech machines in the second quarter, according to data compiled by the Association for Advancing Automation, an industry group.
Like many producers, ICON's business shot up during the COVID-19 pandemic, including demand for its plastic tubes used in pandemic testing. But demand for the tubes and other parts of the company's business have now slumped to levels not seen in at least seven years, Kleitsch said.Many other companies appear to share ICON's hesitation on robots.
"It's not that we've soured on automating," Jeff Burnstein, president of A3, said in an interview with Reuters. "But when people are worried about inflation and the economy, it puts a damper on everything - they hold off."
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