Home » May Machine Tool Consumption Up 17.2% Year-to-Date
May Machine Tool Consumption Up 17.2% Year-to-Date
July 14, 2008
May U.S. manufacturing technology consumption totaled $341.21 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 16.4% from April, but up 2.2% from the total of $333.80 million reported for May 2007. With a year-to-date total of $1,942.37 million, 2008 is up 17.2% compared with 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.
The May machine tool consumption numbers again demonstrated continued strength and growth in many markets across the country, except in the automotive sector in the upper Midwest,"said Peter Borden, AMTDA president. "However, the concerns about energy and commodity prices, along with the traditional summer and pre-IMTS buying slowness, may in the next few months reduce the gains that we have seen thus far this year to bring the orders closer to the forecasts."
The U.S. 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 Northeast Region manufacturing technology consumption in May rose to $48.48 million, 4.7% higher than April's $46.30 million, but 16.0% less than the total for May 2007. The year-to-date total of $269.89 million is off 0.1% when compared with 2007 at the same time.
Southern Region May manufacturing technology consumption in the Southern Region stood at $43.47 million, down 11.6% when compared with April's $49.17 million, and 19.0% less than the May total a year ago. The $314.75 million year-to-date total is 47.2% higher than the 2007 total at the same time.
Midwestern Region At $119.31 million, May manufacturing technology consumption in the Midwestern Region was 26.2% less than the April total of $161.76 million but 20.8% higher than the May 2007 tally. Compared with 2007 at the same time, the year-to-date total of $662.98 million is up 42.6%.
Central Region Central Region manufacturing technology consumption rose to $91.15 million in May, up 7.5% when compared with April's $84.79 million, and 3.4% higher than the total for last May. The 2008 year-to-date total of $447.29 million is 2.9% less than the comparable figure a year ago.
Western Region With a May total of $38.78 million, Western Region manufacturing technology consumption was 41.5% less than April's $66.25 million but up 9.2% when compared with May a year ago. The $247.47 million year-to-date total is down 0.2% when compared with 2007 at the same time.