May U.S. manufacturing technology consumption totaled $178.34 million, according to AMTDA, the American Machine Tool Distributors’ Association and AMT - The Association For Manufacturing Technology.
The total, as reported by companies participating in the USMTC program, was down 22.9% from April but up 58.6% from the total of $112.42 million reported for May 2009. With a year-to-date total of $966.63 million, 2010 is up 52.9% compared with 2009.
These numbers and all data in the report are based on the totals of actual data reported by companies participating in the USMTC program.
“While we would like to see first quarter growth rates continue, we are not surprised by the typical second quarter ebb and flow in capital spending,” noted Peter Borden, AMTDA president. “We have seen an additional month of substantial orders which helps to confirm that a sustainable recovery is taking place despite the buzz of those forecasting a W-shaped rebound. Industry forecasts for the year have been revised slightly upward by many sources and, if Congress passes the bonus depreciation allowance, this could accelerate growth even further.”
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