Manufacturing Technology Consumption is down from last year.
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Press Release Summary:
According to AMT (Association For Manufacturing Technology) and AMTDA (American Machine Tool Distributors' Association), the total for February US manufacturing technology consumption was $129.65 million. This total, as reported by companies participating in the USMTC program, was up 28.5% from January but down 62.4% from the total reported for February 2008. Compared with 2008, 2009 is down 66.2% with a year-to-date total of $230.53 million.
Original Press Release:
Manufacturing Technology Consumption Down 66.2% Year-To-Date
February U.S. manufacturing technology consumption totaled $129.65 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 28.5% from January but down 62.4% from the total of $345.04 million reported for February 2008. With a year-to-date total of $230.53 million, 2009 is down 66.2% 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.
"The February orders confirm the extremely difficult environment our small but vital manufacturing technology suppliers face," said Ronald F. Schildge, Chairman, AMT Board of Directors. "Despite our government's recent efforts to boost the availability of credit and improve cash flow, the loans needed by small businesses continue to be inaccessible and the approval process must change. Our industry is composed almost entirely of small businesses and small businesses are our nation's economic engine."
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
February manufacturing technology consumption in the Northeast Region totaled $25.91 million, 38.4% more than the $18.72 million tally for January but down 52.3% when compared with February a year ago. The $44.63 million year-to-date total is 59.5% less than the comparable figure for 2008.
Southern Region
Southern Region manufacturing technology consumption in February stood at $20.78 million, 43.8% higher than the $14.45 million January total, but 61.8% lower than last February's total. At $35.24 million, 2009 year-to-date is off 66.6% when compared with last year at the same time.
Midwest Region
With a $38.08 million total, February manufacturing technology consumption in the Midwest Region is up 35.7% when compared with the $28.06 million January figure, but down 66.4% when compared with February 2008. The year-to-date total of $66.14 million represents a 70.8% drop from the comparable figure for 2008.
Central Region
Central Region manufacturing technology consumption in February totaled $29.93 million, 22.9% above January's $24.35 million but 63.2% below the February 2008 figure. With a year-to-date total of $54.28 million, 2009 is down 67.5% when compared with 2008 at the same time.
Western Region
At $14.95 million, February manufacturing technology consumption in the Western Region was down 2.2% from the $15.29 million tallied in January and 64.2% below the February 2008 total. The $30.24 million year-to-date total is 58.9% less than the comparable figure for 2008.
Contact:
Pat McGibbon, AMT, 703-827-5255
Robin Kline, AMTDA, 301-738-1200
