Home » YTD, Machine Tool Consumption Off 68.6% in 2009
YTD, Machine Tool Consumption Off 68.6% in 2009
May 10, 2009
March U.S. manufacturing technology consumption was $162.94 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 up 22.3% from February but down 71.9% from the total of $579.73 million reported for March 2008. With a year-to-date total of $397.56 million, 2009 is down 68.6% compared with 2008.
These numbers and all data in this report are based on data reported by companies participating in the USMTC program.
We are pleased that the monthly totals have continued to increase since the historic lows that we saw in January, said Peter Borden, AMTDA president. "This bounce may have been due to year-end inventory sales by some of the large importers, so the next quarter will tell us if we have, indeed, ‘bottomed out' as we hope. The forecasts for the remainder of 2009 warn that sales will be at least 50% below 2008 levels, which we are now approaching; so anything above that will be a plus."
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 U.S.
Northeast Region At $29.66 million, March manufacturing technology consumption in the Northeast Region was up 8.7% from the $27.29 million total for February but down 61.1% when compared with March 2008. The $75.71 million year-to-date total is 59.5% less than the comparable figure for 2008.
Southern Region March manufacturing technology consumption in the Southern Region totaled $18.49 million, 12.4% less than the $21.11 million tally for February and off 85.5% when compared with last March. The $54.15 million year-to-date total is down 76.8% when compared with the same period in 2008.
Midwest Region Midwest Region manufacturing technology consumption in March rose to $51.79 million, 33.0% higher than the $38.93 million February total, but 71.8% lower than the total for March a year ago. At $118.78 million, 2009 year-to-date is off 71.1% when compared with last year at the same time.
Central Region With a $44.36 million total, March manufacturing technology consumption in the Central Region was up 47.2% when compared with the $30.13 million February figure, but down 65.3% when compared with March 2008. The year-to-date total of $99.11 million represents a 66.4% drop from the comparable figure for 2008.
Western Region Western Region manufacturing technology consumption in March totaled $18.65 million, 18.6% above February's $15.73 million but 71.0% below the total for last March. With a year-to-date total of $49.80 million, 2009 is down 63.9% when compared with 2008 at the same time.