Manufacturing technology up 83.2% year-to-date
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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.
Northeast Region
With a total of $97.59 million, October Northeast Region manufacturing technology con-sumption 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.
Southern Region
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.
Midwest Region
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.
Central Region
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.
Western Region
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.
USMTC Report FAQs
What is the USMTC Report?
The United States Manufacturing Technology Consumption (USMTC) Report, measures manufacturing technology net new orders every month based on gross order and cancellation data collected from America’s distributors and builders of manufacturing technology. The report provides national U.S. consumption data of domestic and imported machine tools and related equipment, as well as on a regional basis for five geographic breakdowns of the United States. These orders include both domestically produced manufacturing technology and products that have some non-U.S. content, but have some work added domestically. Increases in dollar volume of manufacturing technology orders show that more manufacturing work on the end product is occurring in the U.S.
What is Manufacturing Technology?
Manufacturing technology encompasses everything between raw materials and finished product. Manufacturing technology turns raw materials such as steel, iron, plastic, ceramics, composites, and alloys from their original shape as stock materials into what will become durable goods such as airplanes, cars, and appliances we use every day.
Why is the USMTC Important?
Analysis of manufacturing industries investment levels in capital metalworking equipment to increase capacity and improve productivity has historically provided a reliable leading economic indicator for the recovery or softening of America’s industrial base.
Manufacturing technology orders are truly an indication of the vitality of America’s industrial base. Changes in orders are a confirmation of recovery, often establishing an upturn or downturn long before the traditional indicators identify a recovery in full bloom.
By collecting data from distributors and builders are orders reported twice?
Duplications are eliminated using a software program that identifies orders sold to the same customer. Non-U.S. builders who sell into this market are included and the data reported in the USMTC Report represents more than 65% of the U.S. manufacturing technology market and nearly 80% of the market.
Who “owns the USMTC Report?
The report is jointly compiled by AMT – The Association For Manufacturing Technology and the AMTDA – The American Machine Tool Distributors’ Association, both of whom represent the production and distribution of manufacturing technology
