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March 2011 U.S. manufacturing technology consumption was $511.15 million according to AMTDA, the American Machine Tool Distributors’ Association and AMT - The Association For Manufacturing Technology, up 57.6% from February and up 99.0% compared to $256.88 million reported in March 2010. The total is $1,203.57 million for the first three months of 2011, up 118.6% compared with the first quarter of 2010.
The two trade associations' report provides U.S. consumption data of domestic and imported machine tools and related equipment, said to provide a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.
"Machine tool sales exceeded expectations again in March and by a large margin; this is a great sign for the U.S. economy,” said Peter Borden, president of AMTDA. “Not only are customers modernizing to become more efficient and to increase capacity as energy and commodity prices rise, but also supplier price increases and reduced inventories seem to be pulling orders sooner in order to use year end depreciation tax advantages.”
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