February U.S. manufacturing technology consumption totaled $308.50 million, according to AMT - The Association For Manufacturing Technology (www.amtonline.org) and AMTDA, the American Machine Tool Distributors’ Association(www.amtda.org).
This total, as reported by companies participating in the United States Manufacturing Technology Consumption (USMTC) program, was down 4.0 percent from January, but up 4.4 percent from the total of $295.39 million reported for February 2007. With a year-to-date total of $624.28 million, 2008 is up 1.2 percent compared with 2007.
“Industry forecasters called for a first-half downturn in manufacturing technology orders,” John B. Byrd III, AMT president said. “The economic stimulus package has kept orders from falling in the first quarter, but the full impact of the package won’t be realized until the fourth quarter when the deadline for stimulus benefits and the industry’s largest trade event, IMTS 2008 (September 8 - 13, McCormick Place, Chicago, Ill.), will likely pull equipment investment dollars from the first half of both 2008 and 2009.”
The United States Manufacturing Technology Consumption 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.
February manufacturing technology consumption in the Northeast Region stood at $49.54 million, down 11.0 percent when compared with January’s $55.64 million, but 9.2 percent higher than the February total a year ago. Compared with 2007 at the same time, the year-to-date total of $102.63 million is up 1.6 percent.
With a February total of $48.79 million, Southern Region manufacturing technology consumption was up 47.8 percent from January’s $33.01 million, and up 21.4 percent when compared with February 2007. The $97.30 million year-to-date total is 32.9 percent higher than the 2007 total at the same time.
Midwestern Region manufacturing technology consumption rose to $96.58 million in February, 11.1 percent higher than January’s $86.97 million, and 30.6 percent higher than the tally in February 2007. The year-to-date total of $200.76 million is 24.7 percent more than the comparable figure in 2007.
At $71.22 million, February manufacturing technology consumption in the Central Region was off 15.2 percent when compared with January’s $84.00 million, and 25.7 percent lower than the February 2007 total. Compared with 2007 at the same time, the year-to-date total of $148.34 million is down 17.5 percent.
Western Region manufacturing technology consumption in February totaled $42.36 million, 31.5 percent less than January’s $61.87 million, but 5.9 percent higher than the comparable figure in 2007. At $75.24 million, the year-to-date total is off 26.1 percent when compared with 2007 at the same time.