Manufacturing Technology Consumption down in 2008.
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Press Release Summary:
According to AMT and AMTDA, December U.S. manufacturing technology consumption totaled $194.01 million, which was down 2.2% from November and 53.8% from total of $419.80 million reported for December 2007. With year-to-date total of $4,211.79 million, 2008 is down 2.4% compared with 2007. United States Manufacturing Technology Consumption report provides regional and national U.S. consumption data of domestic and imported machine tools and related equipment.
Original Press Release:
Manufacturing Technology Consumption Down in 2008
December U.S. manufacturing technology consumption totaled $194.01 million, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributor' Association. This total, as reported by companies participating in the USMTC program, was down 2.2% from November and down 53.8% from the total of $419.80 million reported for December 2007. With a year-to-date total of $4,211.79 million, 2008 is down 2.4% compared with 2007.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"The 2008 Stimulus Package and the International Manufacturing Technology Show in September were expected to pull orders out of 2009 and place them in 2008," said Robert K. Simpson, AMT President. "However, the declines in November and December clearly reflect the impact of financial upheaval this past fall on our industry. The Administration has to get the manufacturing sector on the top of its agenda as manufacturing creates the wealth we need to balance our global debt."
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 totaled $46.09 million in December, up 30.4% when compared with November's $35.36 million, but down 19.1% when compared with December 2007. At $632.99 million, the 2008 year-to-date total is 4.6% less than the comparable figure for 2007.
Southern Region
December manufacturing technology consumption in the Southern Region totaled $31.96 million, up 9.1% when compared with November's $29.28 million, but down 45.8% when compared with the total for December a year ago. At $632.40 million, the year-to-date total is up 13.2% when compared with 2007 at the same time.
Midwest Region
Manufacturing technology consumption in the Midwest Region in December stood at $43.94 million, down 38.2% when compared with November's $71.08 million and 73.0% less than the total for December a year ago. The $1,402.36 million year-to-date total is 2.5% less than the comparable figure for 2007.
Central Region
At $46.57 million, December manufacturing technology consumption in the Central Region was 4.7% above the November total of $44.48 million but 45.7% less than in December 2007. With a year-to-date total of $1,045.04 million, 2008 is down 3.2% when compared with 2007 at the same time.
Western Region
Western Region manufacturing technology consumption in December totaled $25.46 million, 40.2% more than the $18.15 million tallied in November but down 53.9% when compared with last December. At $499.00 million, the 2008 year-to-date total is 13.1% below the comparable figure a year ago.
