The 2020 Mid-Year Economic Update_long

October Machine Tool Consumption up 6.3% YTD

October U.S. manufacturing technology consumption was $393.40 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 10.1% from September, but up 3.1% from the total of $381.62 million reported for October 2006. With a year-to-date total of $3,468.93 million, 2007 was up 6.3% compared with 2006.
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These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
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While below the previous month's extraordinary surge, October manufacturing technology orders remained strong," said John B. Byrd III, AMT president. &nbsp ; "The results virtually ...

October U.S. manufacturing technology consumption was $393.40 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 10.1% from September, but up 3.1% from the total of $381.62 million reported for October 2006. With a year-to-date total of $3,468.93 million, 2007 was up 6.3% compared with 2006.
&nbsp ;
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
&nbsp ;
While below the previous month’s extraordinary surge, October manufacturing technology orders remained strong,” said John B. Byrd III, AMT president. &nbsp ; “The results virtually ensure that 2007 will be the fourth consecutive year of growth in these orders.”
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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.&nbsp ; Analysis of machine tool consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
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U.S. manufacturing technology consumption is also reported on a regional basis for five geographic breakdowns of the U.S.
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Northeast Region
At $61.42 million, Northeast Region manufacturing technology consumption in October was up 32.3% when compared with September’s $46.42 million, and 22.0% higher than the October 2006 tally. The year-to-date total of $531.96 million was 12.1% higher than the comparable figure in 2006.
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Southern Region
October manufacturing technology consumption in the Southern Region stood at $39.77 million, down 20.6% when compared with September’s $50.08 million, but an increase of 1.5% over October a year ago. At $441.84 million, the 2007 year-to-date total was 6.1% higher than the comparable figure for 2006.
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Midwestern Region
Totaling $170.47 million, October manufacturing technology consumption in the Midwestern Region was 16.6% less than September’s $204.42 million, but 15.6% more than the total for October 2006. The year-to-date total of $1,144.26 million beats the comparable figure for 2006 by 9.6%.
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Central Region
Central Region manufacturing technology consumption in October totaled $86.21 million, down 11.6% from September’s $97.47 million and 3.4% lower than the figure for last October. Compared with 2006 at the same time, the year-to-date total of $897.96 million was up 7.3%.
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Western Region
With an October total of $35.53 million, manufacturing technology consumption in the Western Region was down 9.4% from September’s $39.20 million and down 35.8% when compared with October a year ago. The year-to-date total of $452.91 million was 8.1% less than the comparable figure in 2006.

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