Manufacturing Technology Consumption Down in October

October U.S. manufacturing technology consumption totaled $273.85 million, according to the Association for Manufacturing Technology (AMT) and the American Machine Tool Distributors’ Association (AMTDA).
This total was down 43.4 percent from September and down 32.3 percent from the total of $404.36 million reported for October 2007. With a year-to-date total of $3,802.41 million, 2008 is up 8.2% compared with 2007. The report is based on the totals of actual data reported by companies participating in the United States Manufacturing Technology Consumption (USMTC) program.
“October orders for manufacturing technology declined sharply from September, although year-to-date figures are still up over 2007,” said Robert K. Simpson, Association for Manufacturing Technology President.
“While orders typically fall off in October following IMTS, the larger than normal rate of decline is attributed to our customers’ ‘wait and see’ attitude given the deteriorating economic conditions. It’s my hope that Congress heeds the warning and works with manufacturers to establish assistance programs that will revitalize industrial America.”
The United States Manufacturing Technology Consumption 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.
The Southern Region showed the strongest gains for 2008 year-to-date compared to a year ago: 26.9 percent higher year-to-date. October’s total at $28.34 million, but 64.4 percent less than September’s total of $79.53 million.
Coming in second is the Midwest Region, with October’s year-to-date total of $1,281.55 million, up 10.7 percent compared to the same period a year ago. October’s figures show the Midwest Region at 36.8 percent below September’s total of $146.72 million, and 46.4 percent less than in October.
Year-to-date total orders show a year-to-date average of 2,199 units per month with an average value of $385,256. Metal cutting machines show the best strength with an average of 2,098 units sold year-to-date, with an average value of $362,895. Average sales of metal forming machines year-to-date stood at 101 with an average value of $22,361.