Manufacturing technology use jumps 83% in 2010
October U.S. manufacturing technology consumption totaled $387.13 million, according to AMT – The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the USMTC program, was down 2.5% from September but up 154.9% when compared with the total of $151.86 million reported for October 2009. With a year-to-date total of $2,477.06 million, 2010 is up 83.2% 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.
“Never in the history of the USMTC have we seen a post-IMTS October rival September so closely,” noted Douglas K. Woods, President of AMT. “Increased Sec. 179 expensing and 50% bonus depreciation enacted in late September helped offset the declines we normally see after a show. Looking ahead, enactment of the pending tax package would give U.S. manufacturers a big boost heading into the New Year.”
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.
With a total of $97.59 million, October Northeast Region manufacturing technology consumption was up 51.0% when compared with September’s $64.62 million and up 277.5% when compared with October a year ago. At $461.40 million, 2010 year-to-date was 75.9% higher than the comparable figure a year ago.
Manufacturing technology consumption in the Southern Region in October stood at $40.01 million, 40.2% less than September’s $66.92 million but 84.3% more than the October 2009 total. The year-to-date total of $349.01 million was 86.3% above the comparable figure for 2009.
October manufacturing technology consumption in the Midwest Region totaled $116.66 million, down 3.3% when compared with the $120.67 million total for September but up 147.5% when compared with October a year ago. The $746.43 million 2010 year-to-date total was 92.2% higher than the total for the same period last year.
At $92.45 million, October manufacturing technology consumption in the Central Region was 18.7% less than September’s $113.72 million but up 167.7% when compared with last October. The $651.50 million 2010 year-to-date total was 101.2% above the 2009 total at the same time.
Manufacturing technology consumption in the Western Region in October stood at $40.41 million, 29.4% higher than the September total of $31.24 million and 78.6% higher than the total for October 2009. With a year-to-date total of $268.73 million, 2010 was up 40.9% when compared with 2009 at the same time.