January Manufacturing Technology Consumption Down 4.0%

Industry group says first quarter results will improve as 2008 capital budgets are implemented.

January U.S. manufacturing technology consumption totaled $308.73 million, according to AMTDA, the American Machine Tool Distributors' Association, and AMT -- The Association For Manufacturing Technology. This total was down 26.1% from December, and down 4.0% from the total of $321.50 million in January 2007.

"Despite the publicized concerns about the U.S. economy, we anticipate that first quarter machine tool consumption numbers will improve as manufacturers start to implement 2008 capital budgets and use the potential savings available from the new economic stimulus package enacted last month," said Peter Borden, AMTDA President.

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.

On a regional basis, with a January total of $52.47 million, Northeast Region manufacturing technology consumption was down 7.5% from December's $56.72 million, and down 5.7% when compared with last January's figure.The Southern Region manufacturing technology consumption stood at $48.53 million in January, 17.2% less than December's $58.61 million, but 47.0% higher than the January 2007 total. While the Midwestern Region was at $102.28 million in January, off 36.9% when compared with December's $162.05 million, but up 17.6% when compared with January a year ago. The Central regional totalled $72.91 million, 13.6% less than December's $84.39 million and 13.2% lower than the tally for January a year ago. And the Western Region stood at $32.54 million, down 41.8% when compared with December's $55.91 million and 47.4% less than the comparable figure a year ago.

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