Manufacturing Technology Consumption Up 16.4%
May 16, 2008
MCLEAN, VA, May 12-March U.S. manufacturing technology consumption totaled $544.62 million, according to the American Machine Tool Distributors’ Association (AMTDA) and the Association for Manufacturing Technology (AMT). This total, as reported by companies participating in the USMTC program, was up 84.4% from February, and up 36.1% from the total of $400.19 million reported for March 2007. With a year-to-date total of $1,183.75 million, 2008 is up 16.4% compared with 2007.
These numbers are based on the totals of actual data reported by companies participating in the United States Manufacturing Technology Consumption (USMTC) program.
“The March consumption numbers, as well as the first quarter as a whole, clearly demonstrate that the investment incentive stimulus package along with the weak dollar are helping metalworking manufacturing to counteract the weaknesses in the other sectors of the economy,” says Peter Borden, AMTDA president. “We’re pleased that the surcharges on fuel and other items have not affected decision makers’ appetites for capital goods. It’s noteworthy that all areas of the country had substantial gains, and this makes us cautiously optimistic for the balance of the year.”