MCLEAN, VA - March U.S. manufacturing technology consumption totaled $258.00 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 58.1% from February and up 49.5% from the total of $172.59 million reported for March 2009. With a year-to-date total of $548.53 million, 2010 is up 33.7% compared with 2009.
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 March increase in manufacturing technology orders is further proof that the recovery is accelerating,” says Peter Borden, AMTDA president. “The number is encouraging considering that bank lending is still anemic and that Congress has done little to help manufacturing, such as repassing the bonus depreciation tax bill or R&D credits. We still expect some ebb and flow for the rest of the year because of the uncertainties in the world economy.”
The 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.
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U.S. Manufacturing Technology Consumption Report Reflects Economic Recovery
May 10, 2010