Manufacturing technology consumption up 6.3 percent year-to-date

October U.S. manufacturing technology consumption totaled $393.40 million, according The Association For Manufacturing Technology (AMT) (www.amtonline.org) and the American Machine Tool Distributors’ Association. This total, as reported by companies participating in the United States Machine Technology Consumption (USMTC) program, was down 10.1 percent from September, but up 3.1 percent from the total of $381.62 million reported for October 2006. With a year-to-date total of $3,468.93 million, 2007 was up 6.3 percent compared with 2006.

These numbers are based on the totals of actual data reported by companies participating in the USMTC program.

“While below the previous month’s extraordinary surge, October manufacturing technology orders remained strong,” John B. Byrd III, AMT president said. “The results virtually ensure that 2007 will be the fourth consecutive year of growth in these orders.”

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.

U.S. manufacturing technology consumption is also reported on a regional basis for five geographic breakdowns of the United States.

Northeast Region

At $61.42 million, Northeast Region manufacturing technology consumption in October was up 32.3 percent when compared with September’s $46.42 million, and 22.0 percent higher than the October 2006 tally. The year-to-date total of $531.96 million was 12.1 percent higher than the comparable figure in 2006.

Southern Region

October manufacturing technology consumption in the Southern Region stood at $39.77 million, down 20.6 percent when compared with September’s $50.08 million, but an increase of 1.5 percent over October a year ago. At $441.84 million, the 2007 year-to-date total was 6.1 percent higher than the comparable figure for 2006.

Midwestern Region

Totaling $170.47 million, October manufacturing technology consumption in the Midwestern Region was 16.6 percent less than September’s $204.42 million, but 15.6 percent more than the total for October 2006. The year-to-date total of $1,144.26 million beats the comparable figure for 2006 by 9.6 percent.

Central Region

Central Region manufacturing technology consumption in October totaled $86.21 million, down 11.6 percent from September’s $97.47 million and 3.4 percent lower than the figure for last October. Compared with 2006 at the same time, the year-to-date total of $897.96 million was up 7.3 percent.

Western Region

With an October total of $35.53 million, manufacturing technology consumption in the Western Region was down 9.4 percent from September’s $39.20 million and down 35.8 percent when compared with October a year ago. The year-to-date total of $452.91 million was 8.1 percent less than the comparable figure in 2006.