U.S. Manufacturing Technology Consumption Up 33.7% in 1Q May 14, 2010

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March U.S. manufacturing technology consumption totaled $258.00 million, according to the American Machine Tool Distributors’ Association (AMTDA) and The Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the USMTC program, was up 58.1% from February and up 49.5% from the total of $172.59 million reported in March 2009.

With a year-to-date total of $548.53 million, 2010 is up 33.7% compared with 2009.

"The March increase in manufacturing technology orders is further proof that the recovery is accelerating,” said Peter Borden, AMTDA president. “The number is encouraging considering that bank lending is still anemic and that Congress has done little to help manufacturing, such as repassing the bonus depreciation tax bill or R&D credits. We still expect some ebb and flow for the rest of the year because of the uncertainties in the world economy."

The United States Manufacturing Technology Consumption (USMTC) report is jointly compiled by AMTDA and AMT. The associations intend for analysis of manufacturing technology consumption to provide a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.

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