According to figures released Monday (Oct. 11) in the monthly U.S. Manufacturing Technology Consumption (USMTC) report, August domestic technology consumption dropped slightly from July but is up by 88% compared to August 2009. For the 2010 year-to-date, technology consumption has increased 62.4% versus the same period in 2009.
The report, compiled by the Association for Manufacturing Technology (AMT) and the American Machine Tool Distributors’ Association, is considered a key indicator of the strength of the American manufacturing sector.
The two trade associations represent the production and distribution of manufacturing technology and provide regional and national U.S. consumption data of domestic and imported machine tools and related equipment.
Based upon the data supplied by companies participating in the USMTC program, August consumption fell 5.7% for August to $246.4 million. However, year-to-date consumption stood at nearly $1.7 billion.
“Despite the normal summer slowdown, the first eight months of 2010 saw an order rate that was up 60% over the same time period in 2009,” said Douglas K. Woods, president of AMT. “We expect orders to be strong through the remainder of the year due in part to Congress extending the bonus depreciation allowance, which will remain in effect through December.”
The report also broke down the data by five geographic regions:
August manufacturing technology consumption in the Northeast Region totaled $39.16 million, down 24% when compared with the $51.56 million total for July but up 63.7% when compared with August a year ago. The $298.77 million 2010 year-to-date total was 49.3% higher than the total for the same period last year.
At $30.71 million, August manufacturing technology consumption in the Southern Region was up 20.3% from July’s $25.52 million and up 32.7% when compared with last August. The $242.10 million year-to-date total was 59.3% more than the 2009 total at the same time.
With a total of $82.59 million, August Midwest Region manufacturing technology consumption was down 12.2% when compared with July’s $94.02 million but up 133% when compared with August a year ago. At $509.21 million, 2010 year-to-date was 73.2% higher than the comparable figure a year ago.
Central Region manufacturing technology consumption in August stood at $69.13 million, 13.4% higher than the $60.96 million total for July and 120.2% higher than the figure for last August. With a year-to-date total of $450.21 million, 2010 was up 76.4% when compared with 2009 at the same time.
Manufacturing technology consumption in the Western Region in August stood at $24.84 million, 15.4% less than July’s $29.37 million but 44.7% more than the August 2009 total. The year-to-date total of $196.98 million was 37.1% more than the comparable figure for 2009.