Manufacturing Technology Report indicates 33.7% rise in consumption.
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Press Release Summary:
According to American Machine Tool Distributors' Association (AMTDA) and Association For Manufacturing Technology (AMT), March US manufacturing technology consumption totaled $258.00 million. This total, reported by companies participating in USMTC program, is up 58.1% from February and 49.5% from March 2009. With year-to-date total of $548.53 million, 2010 is up 33.7%. AMTDA president Peter Borden said that the March increase provides further evidence of accelerating economic recovery.
Original Press Release:
First Quarter Manufacturing Technology Consumption up 33.7%
March U.S. manufacturing technology consumption totaled $258.00 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 58.1% from February and up 49.5% from the total of $172.59 million re-ported for March 2009. With a year-to-date total of $548.53 million, 2010 is up 33.7% com-pared with 2009.
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 March increase in manufacturing technology orders is further proof that the recov-ery is accelerating," said Peter Borden, AMTDA president. "The number is encouraging con-sidering that bank lending is still anemic and that Congress has done little to help manufac-turing, such as repassing the bonus depreciation tax bill or R&D credits. We still expect some ebb and flow for the rest of the year because of the uncertainties in the world econ-omy."
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 domes-tic and imported machine tools and related equipment. Analysis of manufacturing technol-ogy 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 $35.58 million, March manufacturing technology consumption in the Northeast Region was up 33.6% from February's $26.64 million and up 13.8% when compared with March a year ago. The $87.32 million year-to-date total was 11.3% more than the 2009 total at the same time.
Southern Region
Southern Region manufacturing technology consumption in March rose to $44.03 million, a rise of 132.9% when compared with February's $18.90 million and up 126.5% when com-pared with March 2009. With a year-to-date total of $91.36 million, 2010 was up 65.1% when compared with 2009 at the same time.
Midwest Region
March manufacturing technology consumption in the Midwest Region totaled $77.40 mil-lion, up 82.1% when compared with the $42.49 million total for February and up 43.2% when compared with March a year ago. The $155.85 million year-to-date total was 28.2% more than the total for the same period in 2009.
Central Region
With a total of $63.94 million, Central Region manufacturing technology consumption in March was 20.4% higher than February's $53.11 million and up 37.8% when compared with last March. The year-to-date total of $143.37 million was 40.4% above the comparable figure in 2009.
Western Region
Totaling $37.06 million, Western Region manufacturing technology consumption in March rose 67.9% when compared with February's $22.07 million and was 72.8% more than the March 2009 total. At $70.62 million, 2010 year-to-date was up 33.9% when compared with last year at the same time.
