Manufacturing Technology Consumption is off 70.7% in 2009.
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Press Release Summary:
According to the Association For Manufacturing Technology (AMT) and the American Machine Tool Distributors' Association (AMTDA), April US manufacturing technology consumption totaled $97.04 million. This total, reported by companies participating in the USMTC program, was down 41.5% from March and down 77.7% from the total of $435.34 million reported for April 2008. With a year-to-date total of $497.40 million, 2009 is down 70.7% compared with 2008.
Original Press Release:
Manufacturing Technology Consumption Off 70.7% in 2009
April U.S. manufacturing technology consumption totaled $97.04 million, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors' Association. This total, as reported by companies participating in the USMTC program, was down 41.5% from March and down 77.7% from the total of $435.34 million reported for April 2008. With a year-to-date total of $497.40 million, 2009 is down 70.7% compared with 2008. These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"Industry executives have speculated whether we have reached the bottom of this current economic downturn," said Douglas K. Woods, AMT President. "The 41 percent drop in April orders from March levels and the Chapter 11 filings of GM and Chrysler eliminated any doubt that we still have a couple of rough months ahead. Accessible credit is the key to a viable manufacturing technology industry surviving this recession. Congress has provided the loan guarantees but they need to change the criteria for making loans before their efforts will result in cash flowing back into the system."
The United States Manufacturing Technology Consumption (USMTC) report, jointly compiled by the two trade associations representing the production and distribution of manufacturing technology, provides regional and national U.S. consumption data of domestic and imported machine tools and related equipment. Analysis of manufacturing technology consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
U.S. manufacturing technology consumption is also reported on a regional basis for five geographic breakdowns of the United States.
Northeast Region
Northeast Region manufacturing technology consumption in April totaled $17.62 million, 41.8% less than March's $30.28 million and 67.4% below the total for last April. With a year-to-date total of $93.95 million, 2009 is down 61.0% when compared with 2008 at the same time.
Southern Region
At $12.64 million, April manufacturing technology consumption in the Southern Region was down 31.6% from the $18.49 million total for March and down 75.8% when compared with April 2008. The $66.80 million year-todate total is 76.6% less than the comparable figure for 2008.
Midwest Region
April manufacturing technology consumption in the Midwest Region totaled $30.95 million, 41.9% less than the $53.28 million tally for March and off 81.7% when compared with last April. The $151.22 million year-to-date total is down 73.9% when compared with the same period in 2008.
Central Region
Central Region manufacturing technology consumption in April stood at $23.09 million, down 49.4% from the $45.65 million March total, and 75.1% lower than the total for April a year ago. At $123.45 million, 2009 year-todate is off 68.2% when compared with last year at the same time.
Western Region
With a $12.74 million total, April manufacturing technology consumption in the Western Region was down 29.9% when compared with the $18.17 million March figure, and down 81.1% when compared with April 2008. The year-to-date total of $61.98 million represents a 69.8% drop from the comparable figure for 2008.
