U.S. Machine Tool Consumption Up 52.9% Year-to-Date

After strong first quarter, May is second consecutive month of decline.

Through May 2010, U.S. consumption of machine tools and related equipment, “manufacturing technol-ogy,” totaled $966.63 million, up 52.9% versus the same five-month period of 2009. However, the monthly total for May was $178.34 million, down 22.9% from April and marking the second consecutive monthly de-cline for manufacturing technology consumption. The May consumption total is still a 58.6% improvement from the $112.42 million total reported for May 2009.

The figures are contained in the U.S. Manufacturing Technology Consumption (USMTC) report, and represent actual data. The USMTC is compiled by the American Machine Tool Distributors’ Association (AMTDA) and The Association For Manufacturing Technology from participating companies, and represents the production and distribution of domestic and imported machine tools and related equipment.

“While we would like to see first-quarter growth rates continue, we are not surprised by the typical second-quarter ebb and flow in capital spending,” AMTDA president Peter Borden observed. “We have seen an additional month of substantial orders which helps to confirm that a sustainable recovery is tak-ing place despite the buzz of those forecasting a W-shaped rebound. Industry forecasts for the year have been revised slightly upward by many sources and, if Congress passes the bonus depreciation allow-ance, this could accelerate growth even further.”

The USMTC report also includes data for consumption in five regional markets. For May 2010, the Northeast region reported consumption of $33.78 million, a 7.2% decline compared with the $36.38 million total for April, but an 18.6% increase over May 2009.

With a year-to-date total of $159.16 million for the Northeast, 2010 was up 21.3% versus the 2009 five-month total.

Southern regional manufacturing technology consumption totaled $28.88 million during May, 9.7% less than in April ($31.99 million) but 111.5% more than last May’s total.

Consumption in the Southern region amounted to $154.24 million for the first five months of 2010, 86.5% above the comparable figure for 2009.

In the Midwest region, May manufacturing technology consumption totaled $43.99 million, down 26.5% versus the $59.87 million total for April, but up 56.1% compared to May 2010.

Midwest regional manufacturing technology consumption for the year to date totaled $263.29 million, 45.0% higher than the total for comparable January-May 2009 period.

May manufacturing technology consumption in the Central Region amounted to $53.00 million, a de-cline of 28.4% from April’s $74.06 million but up 152.3% compared with May 2009. The $271.62 million year-to-date total was 82.7% more than the like figure for the first five months of 2009.

In the Western region, manufacturing technology consumption totaled $18.70 million, a 35.4% drop from the April figure ($28.93 million) and down 11.4% from the May 2009 total. Western regional manufac-turing technology consumption totals $118.32 million through May, 34.3% higher than the comparable fig-ure for May 2009.

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