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January Machine Tool Consumption Down 26% from December
March 10, 2008
January U.S. manufacturing technology consumption totaled $308.73 million, according to the American Machine Tool Distributors'Association and the Association for Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was down 26.1% from December, and down 4.0% from the total of $321.50 million reported for January 2007.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
Despite the publicized concerns about the U.S. economy, we anticipate that first quarter machine tool consumption numbers will improve as manufacturers start to implement 2008 capital budgets and use the potential savings available from the new economic stimulus package enacted last month," said Peter Borden, AMTDA president.
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 January total of $52.47 million, Northeast Region manufacturing technology consumption was down 7.5% from December's $56.72 million, and down 5.7% when compared with last January's figure.
Southern Region Southern Region manufacturing technology consumption stood at $48.53 million in January, 17.2% less than December's $58.61 million, but 47.0% higher than the January 2007 total.
Midwestern Region At $102.28 million, January manufacturing technology consumption in the Midwestern Region was off 36.9% when compared with December's $162.05 million, but up 17.6% when compared with January a year ago.
Central Region Central Region manufacturing technology consumption in January totalled $72.91 million, 13.6% less than December's $84.39 million and 13.2% lower than the tally for January a year ago.
Western Region January manufacturing technology consumption in the Western Region stood at $32.54 million, down 41.8% when compared with December's $55.91 million and 47.4% less than the comparable figure a year ago.