Manufacturing Technology Consumption up 22% Through February Apr 19, 2010

Printable format  Email this Article  Search

February U.S. manufacturing technology consumption totaled $163.96 million, up 22.1% from the total of $134.34 million reported for Feb. 2009 according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors’ Association.

The total comes from companies participating in the USMTC program. The February number was up 28.8% from January 2010. With a year-to-date total of $291.27 million, 2010 is up 22.3% compared with 2009.

The report shows that "The market has turned and is slowly recovering from the worst single year downturn in our industry’s history," said AMT President Douglas K. Woods. “That increase could be twice as large if banks would ease credit restrictions. Our banks have a tenth of our GDP and nearly 24 times the required reserve in the Federal Depository when that money should be working to rebuild America.”

The United States Manufacturing Technology Consumption (USMTC) report represents 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 associations say that 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.

Back to Daily News