The 2020 Mid-Year Economic Update_long

August Machine Tool Consumption Up 6.2% YTD

August U.S. manufacturing technology consumption totaled $347.25 million, according to rhe Association for Manufacturing Technology and the American Machine Tool Distributors'Association. This total was up 26.6% from July, and up 9.7% from the total of $316.44 million reported for August 2006. With a year-to-date total of $2,609.41 million, 2007 was up 6.2% compared with 2006.

These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program. Machine tool orders have outpaced last year's results due in part to the decline in the dollar's strength, which is making manufacturing in the U.S. more competitive," said John B. Byrd III, AMT president.&nbsp ; "However, it may be difficult to sustain the current ...

August U.S. manufacturing technology consumption totaled $347.25 million, according to rhe Association for Manufacturing Technology and the American Machine Tool Distributors’Association. This total was up 26.6% from July, and up 9.7% from the total of $316.44 million reported for August 2006. With a year-to-date total of $2,609.41 million, 2007 was up 6.2% compared with 2006.

These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program. Machine tool orders have outpaced last year’s results due in part to the decline in the dollar’s strength, which is making manufacturing in the U.S. more competitive,” said John B. Byrd III, AMT president.&nbsp ; “However, it may be difficult to sustain the current growth rate through year end due to the very strong activity during and shortly following IMTS 2006. &nbsp ; &nbsp ; &nbsp ;

The United States 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
August manufacturing technology consumption in the Northeast Region totaled $50.19 million, 29.1% higher than July’s $38.88 million and up 7.5% when compared with August 2006. At $421.03 million, the 2007 year-to-date total was 15.4% higher than the comparable figure for 2006.

Southern Region
Manufacturing technology consumption in the Southern Region in August rose to $46.52 million, up 7.4% from July’s $43.33 million and 3.8% more than the total for August last year. At $349.36 million, the 2007 year-to-date total was 4.1% higher than the comparable figure for 2006.

Midwestern Region
At $105.45 million, Midwestern Region manufacturing technology consumption in August was up 18.2% when compared with July’s $89.23 million, and 30.6% higher than the August 2006 total. The $754.53 million year-to-date total was down 0.2% when compared with the 2006 total at the same time.

Central Region
Central Region manufacturing technology consumption in August totaled $99.97 million, up 42.2% from July’s $70.31 million and up 14.6% when compared with last August. The year-to-date total of $708.63 million was 13.4% more than the comparable figure in 2006.

Western Region
At $45.11 million, Western Region manufacturing technology consumption in August was up 38.2% when compared with July’s $32.63 million, but 20.9% less than the tally for August a year ago. Compared with 2006 at the same time, the year-to-date total of $375.86 million was up 0.2%.

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