(Year over Year through April, 2011)
***Below are excerpts from a press release that takes a micro look at the machine tool and metal fabrication space for new machine orders in the US. The statistics in the report compare year-over-year numbers through April, 2011. Comparing this information to the recent macro economic trends also outlined in our blog, we are very curious to see what USMTC reports later in the year for Q2 and Q3, 2011. WIll the micro trend follow the macro trend?***
April U.S. manufacturing technology consumption totaled $396.92 million according to The Association For Manufacturing Technology (AMT) and the American Machine Tool Distributors Association (AMTDA); two trade associations representing the production and distribution of manufacturing technology. This total, as reported by companies participating in the US manufacturing technology consumption program (USMTC), was down 21.0% from March but up 74.9% when compared with the total of $226.99 million reported for April 2010. With a year-to-date total of $1,595.98 million, 2011 is up 105.3% compared with 2010.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"It is very encouraging to see year-to-date orders more than double last year's pace particularly with the price of oil, unrest in the Middle East, and the disasters in Japan," said Douglas K. Woods, President of AMT. "Despite April's numbers being slightly lower than March, recent levels of outstanding order activity are now approaching pre-recession levels which is a positive long-term indicator for our industry."
The USMTC report, jointly compiled by AMT and AMTDA, 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.
Entire report can be found at www.usmtc.com/News.aspx