Manufacturing Technology Consumption rose slightly in May.
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Press Release Summary:
According to the American Machine Tool Distributors Association (AMTDA) and The Association For Manufacturing Technology (AMT), May US manufacturing technology consumption totaled $109.90 million. This total, reported by companies participating in the USMTC program, was up 5.8% from April but down 72.3% from the total of $397.16 million reported for May 2008. With a year-to-date total of $618.30 million, 2009 is down 70.5% compared with 2008.
Original Press Release:
Manufacturing Technology Consumption Rises Slightly in May
May U.S. manufacturing technology consumption totaled $109.90 million, according to AMTDA, the American Machine Tool Distributors' Association, and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 5.8% from April but down 72.3% from the total of $397.16 million reported for May 2008. With a year-to-date total of $618.30 million, 2009 is down 70.5% 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.
"While total manufacturing technology dollar values increased slightly, the unit numbers decreased in May," said Peter Borden, AMTDA President. "The overall economic signs are more positive with the Purchasing Managers' Index improving, inventories shrinking, and the production index rising. However, prolonged misallocation of federal stimulus dollars that fail to reach small businesses will jeopardize a speedy economic recovery."
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
With a $27.80 million total, May manufacturing technology consumption in the Northeast Region was up 22.5% when compared with the $22.69 million total for April, but down 50.0% when compared with May 2008. The year-to-date total of $127.28 million represents a 57.1% drop from the comparable figure for 2008.
Southern Region
Southern Region manufacturing technology consumption in May totaled $13.23 million, 1.0% less than April's $13.37 million and 72.2% below the total for last May. With a year-to-date total of $80.94 million, 2009 is down 75.7% when compared with 2008 at the same time.
Midwest Region
At $27.15 million, May manufacturing technology consumption in the Midwest Region was down 12.6% from the $31.06 million total for April and down 80.5% when compared with May 2008. The $178.58 million year-to-date total is 75.2% less than the comparable figure for 2008.
Central Region
May manufacturing technology consumption in the Central Region totaled $21.38 million, 8.8% less than the $23.44 million tally for April and off 80.0% when compared with May a year ago. The $145.63 million year-to-date total is down 70.6% when compared with the same period in 2008.
Western Region
Western Region manufacturing technology consumption in May rose to $20.34 million, 52.4% higher than April's $13.35 million, but 57.4% lower than the total for May 2008. At $85.88 million, 2009 year-to-date is off 66.1% when compared with last year at the same time.
Contact:
Peter Borden, AMTDA, 301-738-1200
Pat McGibbon, AMT, 703-827-5255
