Manufacturers Hungry for Tech
August 20, 2007
U.S. manufacturing technology consumption in June was up 5.1 percent from May and 0.4 percent from June 2006, according to the latest numbers reported by companies participating in the United States Manufacturing Technology Consumption program.
The total, as reported last week by companies participating in the U.S. Manufacturing Technology Consumption (USMTC) program, was up 5.1 percent from May, and up 0.4 percent from the $346.47 million total reported for June 2006.
With a year-to-date total of $1,982.52 million, 2007 was up 7.7 percent compared with 2006.
"Through the first half of this year, manufacturers have continued to increase purchases of advanced production equipment," AMT President John B. Byrd III said in the announcement. "These strategic investments contribute to continuing U.S. economic growth by increasingly competitive U.S. manufacturing firms."
According to the two associations, analysis of machine tool consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
Jointly compiled by the two trade associations representing the production and distribution of manufacturing technology, the USMTC report provides both national and regional U.S. consumption data of domestic and imported machine tools and related equipment. U.S. manufacturing technology consumption is reported on a regional basis for five geographic breakdowns of the U.S.
Northeast Region June manufacturing technology consumption in the Northeast Region rose to $68.40 million, 21.3 percent higher than May's $56.41 million and up 39.7 percent when compared with June a year ago. The year-to-date total of $331.86 million was up 20.5 percent when compared with 2006 at the same time.
Southern Region Southern Region manufacturing technology consumption in June totaled $47.51 million, down 10.4 percent from May's $53.02 million and down 2.6 percent when compared with last June. The year-to-date total of $258.74 million was 1.8 percent more than the comparable figure in 2006.
Midwestern Region Manufacturing technology consumption in the Midwestern Region in June totaled $100.16 million, up 2.5 percent from May's $97.69 million but 8.4 percent less than the total for June 2006. With a year-to-date total of $559.82 million, 2007 was level with 2006 at the same time.
Central Region Central Region manufacturing technology consumption in June stood at $76.58 million, 13.2 percent less than the $88.24 million total for May and down 14.1 percent when compared with June a year ago. At $530.26 million, the 2007 year-to-date total was 13.3 percent higher than the comparable figure for 2006.
Western Region At $55.04 million, Western Region manufacturing technology consumption in June was up 55.6 percent when compared with the $35.37 million tallied in May and 9.5 percent higher than the June 2006 total. Compared with 2006 at the same time, the year-to-date total of $301.85 million was up 6.1 percent.
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