October U.S. manufacturing technology consumption totaled $387.13 million, up 154.9% compared to $151.86 million in October 2009, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors’ Association.
The October total was down 2.5% from September; with a year-to-date total of $2,477.06 million, 2010 is up 83.2% compared with 2009.
"Never in the history of the USMTC have we seen a post-IMTS October rival September so closely,” noted Douglas K. Woods, President of AMT. “Increased Sec. 179 expensing and 50% bonus depreciation enacted in late September helped offset the declines we normally see after a show. Looking ahead, enactment of the pending tax package would give U.S. manufacturers a big boost heading into the New Year.”
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.
to Daily News