March U.S. manufacturing technology consumption totaled $511.15 million, according to AMTDA, the American Machine Tool Distributors’ Association and AMT, the Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 57.6 percent from February and up 99.0 percent when compared with the total of $256.88 million reported for March 2010. With a year-to-date total of $1,203.57 million, 2011 is up 118.6 percent compared with 2010.
“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, in a prepared statement. “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.
Northeast Region: 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: 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.
Midwest Region: 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: 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.
Western Region: 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.