Manufacturing Technology Consumption Ahead of Last Year
While the figure was down 40.3 percent from December it represents a spike over 26.2 percent from the total of $103.77 million reported for January 2009.
"Many customers placed orders in December to take advantage of tax relief measures, pulling orders out of January 2010," said Peter Borden, AMTDA President, in a press release. "The good news is that January 2010 orders are still 26 percent ahead of January 2009. Fortunately, there are measures moving through Congress that will expand these benefits, incentivizing manufacturers to invest in capital equipment in 2010."
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.
The report provided a regional breakdown as well, In the northeast region January manufacturing technology consumption totaled $25.88 million, down 40.5% when compared with the $43.49 million total for December but up 31.4 percent when compared with January a year ago.
Totaling $28.51 million, the southern region manufacturing technology consumption in January fell 3.6 percent below December's $29.57 million but was 95.8 percent higher than the total for January 2009.
With a total of $37.41 million, the Midwest region manufacturing technology consumption in January was 39.9 percent less than December's $62.22 million but up 31.2 percent when compared with January a year ago.
At $27.10 million, January manufacturing technology consumption in the central region was down 50.6 percent from December's $54.81 million but up 6.0 percent when compared with January a year ago.
Western region manufacturing technology consumption in January fell 58.7 percent to $12.06 million when compared with December's $29.22 million and was down 21.8 percent when compared with January 2009.
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