“In November, government data confirmed that the manufacturing recession hit bottom during the summer. However, manufacturing technology bookings typically pick up two to three quarters following the overall manufacturing sector,” said Douglas K. Woods, AMT President. “October’s slight decrease from September’s booking is typical of past years and favorably off less than in previous years. Major indicators are still pointing to a turnaround in business, which is welcome news no matter how slow it is expected to grow next year.”
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.
Totaling $26.27 million, Northeast Region manufacturing technology consumption in October was down 29.2% from September’s $37.09 million and 42.2% less than the total for October 2008. At $268.46 million, 2009 year-to-date was off 54.1% when compared with last year at the same time.
With a total of $21.12 million, Southern Region manufacturing technology consumption in October was 53.5% higher than September’s $13.75 million but off 36.7% when compared with October a year ago. The year-to-date total of $187.88 million was 69.0% less than the comparable figure in 2008.
At $47.4 million, October manufacturing technology consumption in the Midwest Region was slightly less than September’s $47.63 million and down 51.9% when compared with October a year ago. The $394.24 million year-to-date total was 70.5% less than the 2008 total at the same time.
Central Region manufacturing technology consumption in October rose to $35.27 million, 3.2% higher than September’s $34.18 million but down 58.5% when compared with October 2008. With a year-to-date total of $330.02 million, 2009 was down 67.7% when compared with 2008 at the same time.
October manufacturing technology consumption in the Western Region totaled $22.62 million, 7.3% less than the $24.41 million total for September and off 39.0% when compared with October a year ago. The $191.71 million year-to-date total was down 59.5% when compared with the same period in 2008.