The 2020 Mid-Year Economic Update_long

Machine Tool Consumption Up 22.3% YTD

August U.S. manufacturing technology consumption totaled $300.15 million, according to AMT – The Association for Manufacturing Technology and AMTDA, the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the USMTC program, was up 3.4% from July and up 2.1% from the total of $294.10 million reported for August 2005. With a year-to-date total of $2,381.37 million, 2006 was up 22.3% compared with 2005.
 
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.

“August consumption was unusually high, but not surprising when you consider that some industries, such as construction equipment, are working at 100% of capacity,” said John B. Byrd III, AMT president. “Buyers for many industries were very active at the recent International Manufacturing Technology Show, looking for both increased productivity and for capacity advances. Clearly, the year will end on a high note as orders taken at IMTS are realized.”

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 August totaled $45.79 million, up 11.1% from July’s $41.23 million and 68.0% above the August 2005 total. At $352.54 million, the year-to-date total was 33.1% higher than the comparable figure in 2005.

Southern Region
At $44.08 million, August Southern Region manufacturing technology consumption was 24.6% higher than July’s $35.39 million and 10.9% higher than the August 2005 total. Year-to-date 2006 consumption rose to $328.72 million, 3.1% more than the comparable figure for 2005.

Midwestern Region
Totaling $71.06 million, August manufacturing technology consumption in the Midwestern Region was 37.4% less than the $113.44 million tallied in July, and off 43.2% when compared with August a year ago. With a year-to-date total of $720.16 million, 2006 was running 3.5% ahead of 2005 at the same time.

Central Region
Manufacturing technology consumption in the Central Region in August totaled $83.40 million, up 22.3% when compared with July’s $68.22 million, and 27.5% higher than the August 2005 total. At $611.86 million, year-to-date 2006 consumption was 51.0% ahead of 2005 at the same time.

Western Region
August manufacturing technology consumption in the Western Region rose to $55.82 million, 74.9% higher than July’s $31.91 million and up 52.8% when compared with August 2005. Year-to-date consumption of $368.09 million was 40.7% ahead of the comparable figure for 2005.

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