The 2020 Mid-Year Economic Update_long

September Machine Tool Consumption Jumps 32% from August

September U.S. manufacturing technology consumption totaled $439.51 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 up 32.0% from August but down 1.4% from the total of $445.56 million reported for September 2007. With a year-to-date total of $3,462.69 million, 2008 is up 11.4% 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.

This solid September machine tool consumption report confirms the strong numbers from IMTS in September,"said Peter Borden, AMTDA President. "However, the financial uncertainty faced by ...

September U.S. manufacturing technology consumption totaled $439.51 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 up 32.0% from August but down 1.4% from the total of $445.56 million reported for September 2007. With a year-to-date total of $3,462.69 million, 2008 is up 11.4% 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.

This solid September machine tool consumption report confirms the strong numbers from IMTS in September,”said Peter Borden, AMTDA President. “However, the financial uncertainty faced by the U.S. and G7 nations around the globe is signaling the approach of a tipping point towards the forecasted cyclical slowdown in the manufacturing sector. That said, we do expect 2008 to remain in the positive year-over-year growth column from 2007 due to continuing strength in energy-related and medical manufacturing.”

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 United States.

Northeast Region
Northeast Region manufacturing technology consumption in September rose to $70.17 million, 47.5% higher than the $47.57 million total for August and up 48.1% when compared with September a year ago. The $501.68 million year-to-date total is 4.6% above the comparable figure for 2007.

Southern Region
At $77.24 million, September manufacturing technology consumption in the Southern Region was 146.6% higher than the August total of $31.33 million and 50.2% more than in September 2007. With a year-to-date total of $538.07 million, 2008 is up 31.7% when compared with 2007 at the same time.

Midwest Region
Midwest Region manufacturing technology consumption stood at $139.86 million in September, up 6.8% when compared with August’s $130.97 million, but down 33.0% when compared with September a year ago. At $1,165.13 million, the 2008 year-to-date total is 18.4% higher than the comparable figure for 2007.

Central Region
September manufacturing technology consumption in the Central Region totaled $104.73 million, 28.5% more than August’s $81.52 million, and up 6.4% when compared with the total for September a year ago. The $842.02 million year-to-date total is up 3.2% when compared with 2007 at the same time.

Western Region
Manufacturing technology consumption in the Western Region in September totaled $47.52 million, 14.1% more than the $41.65 million tallied in August and up 19.7% when compared with last September. With a year-to-date total of $415.79 million, 2008 is 1.2% below the comparable figure for the previous year. 

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