Manufacturers continue to invest in metalworking equipment, according to the recent machine tool consumption report released by AMT — The Association For Manufacturing Technology and the American Machine Tool Distributors Association.
According to the report, U.S. shops bought new technology in April to the tune of $257.39 million, a 29.0% increase over April 2004. The number was down 8.3% from March. However, with a year-to-date total of $969.35 million, 2005 is still up 18.6% over last year.
AMT President John B. Byrd III views the increase as evidence that the industry "recognizes the need to invest in productivity-enhancing technologies to remain competitive."
The regional breakdown for April 2005 and its comparison to March 2005 are:
- West - $36.71million/ +16.4%
- Central - $52.12 million/ -0.3%
- South - $49.49 million/ -21.1%
- Midwest -$72.83 million/ -24.1%
- Northeast - $46.24 million/ +21.5%