November U.S. manufacturing technology consumption totaled $185.57 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 34.7% from October and down 51.4% from the total of $381.76 million reported for November 2007. With a year-to-date total of $4,004.31 million, 2008 is up 2.8% 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 November numbers demonstrate the much publicized slowdown in manufacturing, said Peter Borden, AMTDA president. "After three years of averaging over 2,000 units per month, unit consumption fell back to a level that we have not seen since Jan. 2004 and Jan. 2005. We are not optimistic about the numbers improving quickly unless the new administration can create some confidence in the marketplace for all sectors of the U.S. economy."
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.
Northeast Region Manufacturing technology consumption in the Northeast Region totaled $33.91 million, 19.9% less than October's $42.31 million, and down 43% when compared with the total for November 2007. The $585 million year-to-date total is down 3.5% when compared with 2007 at the same time.
Southern Region Manufacturing technology consumption in the Southern Region was $27.74 million, down 4.5% when compared with October's $29.06 million and 45.1% less than the total for November a year ago. The $598.67 million year-to-date total is 19.8% higher than the comparable figure for 2007.
Midwest Region Midwest Region manufacturing technology consumption in November totaled $65.27 million, 32.3% less than in October and down 45.2% when compared with last November. At $1,352.61 million, the 2008 year-to-date total is 6% above the comparable figure a year ago.
Central Region At $43.78 million, manufacturing technology consumption in the Central Region was 45.2% below the October total of $79.95 million and 51.8% less than in November 2007. With a year-to-date total of $997.77 million, 2008 is up 0.4% when compared with 2007 at the same time.
Western Region Western Region manufacturing technology consumption totaled $14.87 million, down 59.3% when compared with October's $36.5 million, and down 75.9% when compared with November 2007. At $470.26 million, the 2008 year-to-date total is 9.3% less than the comparable figure for 2007.