Manufacturing technology consumption sees huge boost in March
Technology consumption was up 57.6% from February and almost twice as high as March 2010.
March U.S. manufacturing technology consumption totaled $511.15 million, according to American Machine Tool Distributors’ Association (AMTDA) and Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the USMTC program, was up 57.6% from February and up 99% when compared with the total of $256.88 million reported for March 2010. With a year-to-date total of $1.2 billion, 2011 is up 118.6% 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.
Machine tool sales exceeded expectations again in March and by a large margin; this is a great sign for the U.S. economy,” said Peter Borden, president of AMTDA. “Not only are customers modernizing to become more efficient and to increase capacity as energy and commodity prices rise, but also supplier price increases and reduced inventories seem to be pulling orders sooner in order to use year-end depreciation tax advantages.”
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.
March manufacturing technology consumption in the Northeast Region totaled $76.41 million, up 39.9% from February’s $54.63 million and up 112.6% when compared with the March 2010 total. With a year-to-date total of $180.84 million, 2011 is up 104.3% when compared with 2010 at the same time.
Southern Region manufacturing technology consumption in March stood at $45.68 million, 33.0% higher than February’s $34.35 million and 3.1% higher than the total for the previous March. With a year-to-date total of $133.62 million, 2011 is up 45.8% when compared with 2010.
Manufacturing technology consumption in the Midwest Region in March rose to $214.18 million, up 94.2% from February’s $110.29 million and up 174.8% when compared with the March 2010 figure. The $436.75 million year-to-date total is 175.1% more than the total for the same period in 2010.
Central Region manufacturing technology consumption totaled $126.18 million in March, 28.9% higher than February’s $97.88 million and up 99.7% when compared with the total for March 2010. At $333.38 million, 2011 year-to-date is up 136.4% when compared with last year at the same time.
At $48.70 million, March manufacturing technology consumption in the Western Region was 79.3% higher than February’s $27.17 million and up 37.3% when compared with last March. The year-to-date total of $118.97 million is 68.6% more than the comparable figure for 2010.