Manufacturing Technology Consumption Up 11.4% in 2008
November 12, 2008
MCLEAN, VA, November 10-September U.S. manufacturing technology consumption totaled $439.51 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 United States Manufacturing Technology Consumption (USMTC) program, was up 32% 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 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,” says 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.”