U.S. Machine Tool Sales Increased 28.8% in February, Up 22% YTD
The Association For Manufacturing Technology and the American Machine Tool Distributors’ Association report that total U.S. manufacturing technology consumption during February amounted to $163.96 million. The data is contained in the monthly USMTC report sponsored by the two trade associations and representing the sales of machine tools and supplies recorded by their participating members. The February figures show an increase of 28.8% from January 2010 and 22.1% from February 2009.
The two-month sales total for 2010 amounts to $291.27 million, a 22.3% improvement compared with 2009.
“Manufacturing technology orders start off 2010 up 22% through February, showing that the market has turned and is slowly recovering from the worst single year downturn in our industry’s history,” stated AMT president Douglas K. Woods. “That increase could be twice as large if banks would ease credit restrictions. Our banks have a tenth of our GDP and nearly 24 times the required reserve in the Federal Depository when that money should be working to rebuild America.”
The U.S. Manufacturing Technology Consumption also includes summaries of regional machine tool sales. In the North-east Region, February manufacturing technology consumption rose to $26.64 million, increasing 6.1% over $25.11 million in January sales, but down 3.1% compared with February 2009. Year-to-date sales in the Northeast total $51.75 million, up 9.6% from the January-February 2009 totals.
In the Southern Region, February machine tool sales amounted to $19.00 million, a 33.2% decline versus January when sales totaled $28.42 million, and a 11.0% declined versus February 2009. Southern regional sales for January-February 2010 total $47.42 million, 32.1% more than the two-month total for 2009.
Midwest Regional machine tool consumption totaled $43.06 million in February, 19.7% higher than January’s $35.96 million and up 9.0% more than February 2009 totals. Year-to-date sales totals of $79.02 million in the Midwest are16.2% more the January-February 2009 cumulative total.
In the Central Region, February machine tool consumption totaled $53.20 million, 102.1% more than the $26.32 million total in January, and 76.6% more than the February 2009 total. Year-to-date regional machine tool consumption is $79.52 million, a 42.8% increase compared January-February 2009.
Western Regional manufacturing technology consumption increased 91.9% in February, to $22.07 million from $11.50 million in January, and up 39.1% compared to February 2009. The regional year-to-date total consumption is $33.57, 7.3% more than the two-month total for 2009.
