January U.S. manufacturing technology consumption totaled $94.95 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 59.2% from December and down 71.9% from the total of $338.00 million reported for January 2008.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
There's no way or reason to try to sugar coat these numbers - they are the lowest since the program began in 1996, said Peter Borden, AMTDA president. "While a few small pockets of activity have continued, most everyone will be on the sidelines until there is some confidence and positive direction for the rest of the economy. No one knows at this point where the bottom is and if a recovery will occur this year. The optimism that we had hoped would follow the Inauguration thus far has not materialized."
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 January stood at $16.28 million, 68.6% less than the $51.91 million total for December and down 70.9% when compared with last January.
Southern Region January manufacturing technology consumption in the Southern Region totaled $13.63 million, down 62.2% when compared with December's $36.04 million, and 73.3% less than the total for January a year ago.
Midwest Region At $27.40 million, January manufacturing technology consumption in the Midwest Region was down 49.7% from the $54.46 million tallied in December and 75.9% below the January 2008 total.
Central Region Central Region manufacturing technology consumption in January totaled $22.35 million, 60.3% lower than December's $56.28 million and 73.9% less than the total for January a year ago.
Western Region January manufacturing technology consumption in the Western Region totaled $15.29 million, 54.9% less than the $33.90 million total for December and down 51.9% when compared with last January.