Manufacturing Consumption Up 99 Percent
February U.S. manufacturing technology consumption totaled $329.43 million, according to the Association for Manufacturing Technology (AMT) and the American Machine Tool Distributors’ Association (AMTDA). This total, as reported by companies participating in the United States Machine Tool Consumption Report (USMTC) program, was down 10.9 percent from January, but up 99.3 percent when compared with the total of $165.31 million reported for February 2010. With a year-to-date total of $699.16 million, 2011 is up 138.1 percent compared with 2010.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
“The dramatic year-over-year growth further underscores the manufacturing renaissance that is taking place,” said Douglas K. Woods, President of AMT. “As February is a short month, the slight decline from January is to be expected, but the overall gains compared with February 2010 point to our belief that 2011 will be a strong year for the industry.”
The USMTC, 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 manufacturing technology consumption in February stood at $55.16 million, 10.6 percent higher than January’s $49.86 million and 104.4 percent higher than the tally for the previous February. With a year-to-date total of $105.03 million, 2011 is up 310.7 percent when compared with 2010.
Manufacturing technology consumption in the southern region in February stood at $34.35 million, down 36.0 percent from January’s $53.66 million, but up 73.1 percent when compared with the February 2010 figure. The $88.01 million year-to-date total is 85.8 percent more than the total for the same period in 2010.
Midwest manufacturing technology consumption totaled $112.90 million in February, up slightly when compared with January’s $112.47 million and up 161.2 percent when compared with the total for February 2010. At $225.38 million, 2011 year-to-date is up 178.8 percent when compared with last year at the same time.
At $97.49 million, February manufacturing technology consumption in the central region was 11.3 percent lower than January’s $109.91 million, but up 88.3 percent when compared with last February. The year-to-date total of $207.40 million is 166.5 percent more than the comparable figure for 2010.
February manufacturing technology consumption in the western region totaled $29.52 million, down 32.6 percent from January’s $43.82 million, but 25.7 percent higher than the February 2010 total. With a year-to-date total of $73.34 million, 2011 is up 109.0 percent when compared with 2010 at the same time.
For more information, please visit www.amtonline.org.