The 2020 Mid-Year Economic Update_long

February Machine Tool Consumption Down 4%

February U.S. manufacturing technology consumption totaled $308.50 million, according to the Association For Manufacturing Technology and the American Machine Tool Distributors'Association. This total, as reported by companies participating in the USMTC program, was down 4% from January, but up 4.4% from the total of $295.39 million reported for February 2007. With a year-to-date total of $624.28 million, 2008 is up 1.2% 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.

Industry forecasters called for a first-half downturn in manufacturing technology orders,"said John B. Byrd III, AMT president. "The economic stimulus package has kept orders from falling in ...

February U.S. manufacturing technology consumption totaled $308.50 million, according to the Association For Manufacturing Technology and the American Machine Tool Distributors’Association. This total, as reported by companies participating in the USMTC program, was down 4% from January, but up 4.4% from the total of $295.39 million reported for February 2007. With a year-to-date total of $624.28 million, 2008 is up 1.2% 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.

Industry forecasters called for a first-half downturn in manufacturing technology orders,”said John B. Byrd III, AMT president. “The economic stimulus package has kept orders from falling in the first quarter, but the full impact of the package won’t be realized until the fourth quarter when the deadline for stimulus benefits and the industry’s largest trade event, IMTS 2008, will likely pull equipment investment dollars from the first half of both 2008 and 2009.”

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
February manufacturing technology consumption in the Northeast Region stood at $49.54 million, down 11.0% when compared with January’s $55.64 million, but 9.2% higher than the February total a year ago. Compared with 2007 at the same time, the year-to-date total of $102.63 million is up 1.6%.

Southern Region
With a February total of $48.79 million, Southern Region manufacturing technology consumption was up 47.8% from January’s $33.01 million, and up 21.4% when compared with February 2007. The $97.30 million year-to-date total is 32.9% higher than the 2007 total at the same time.

Midwestern Region
Midwestern Region manufacturing technology consumption rose to $96.58 million in February, 11.1% higher than January’s $86.97 million, and 30.6% higher than the tally in February 2007. The year-to-date total of $200.76 million is 24.7% more than the comparable figure in 2007.

Central Region
At $71.22 million, February manufacturing technology consumption in the Central Region was off 15.2% when compared with January’s $84.00 million, and 25.7% lower than the February 2007 total. Compared with 2007 at the same time, the year-to-date total of $148.34 million is down 17.5%.

Western Region
Western Region manufacturing technology consumption in February totaled $42.36 million, 31.5% less than January’s $61.87 million, but 5.9% higher than the comparable figure in 2007. At $75.24 million, the year-to-date total is off 26.1% when compared with 2007 at the same time.

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