August Manufacturing Technology Consumption was up 4%.
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Press Release Summary:
According to AMT and AMTDA, August U.S. manufacturing technology consumption totaled $323.07 million, which was up 4.0% from July but down 11.5% from total of $365.14 million reported for Aug 2007. With year-to-date total of $3,001.95 million, 2008 is up 12.7% compared with 2007. These numbers are based on totals of actual data reported by companies participating in USMTC program. Analysis provides leading economic indicator as manufacturing industries invest in capital metalworking equipment.
Original Press Release:
August Manufacturing Technology Consumption Up 4%
August U.S. manufacturing technology consumption totaled $323.07 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 up 4.0% from July but down 11.5% from the total of $365.14 million reported for August 2007. With a year-to-date total of $3,001.95 million, 2008 is up 12.7% 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.
"August's results are in line with historical trends, which tell us that the month preceding the International Manufacturing Technology Show tends to be lower than in non-IMTS years because buyers wait for the September show before making new technology investments," said Robert K. Simpson, AMT President. "We expect to see strong September numbers due to a very active IMTS and the impending year-end expensing allowance deadline."
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
At $47.09 million, August manufacturing technology consumption in the Northeast Region was down 4.7% when compared with July's $49.41 million and down 8.3% when compared with August a year ago. With a year-to-date total of $428.03 million, 2008 is off 1.0% from the comparable figure in 2007.
Southern Region
Southern Region manufacturing technology consumption stood at $31.34 million in August, down 23.5% when compared with July's $40.95 million, and 35.7% less than the August 2007 total. At $459.97 million, the 2008 year-to-date total is 28.7% higher than the comparable figure for 2007.
Midwest Region
August manufacturing technology consumption in the Midwest Region totaled $121.82 million, 47.3% more than July's $82.71 million, and up 4.2% when compared with the total for August a year ago. The $1,010.04 million year-to-date total is up 30.2% when compared with 2007 at the same time.
Central Region
Manufacturing technology consumption in the Central Region in August totaled $80.77 million, 21.4% less than July's $102.74 million and 19.8% less than the August total a year ago. With a year-to-date total of $736.37 million, the 2008 tally is 2.7% above the comparable figure for the previous year.
Western Region
Western Region manufacturing technology consumption in August rose to $42.05 million, 20.7% higher than the $34.84 million total for July, but off 11.3% when compared with last August. The $367.54 million year-to-date total is down 3.6% when compared with 2007 at the same time.
