February U.S. manufacturing technology consumption totaled $163.96 million, according to AMT - -The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors' Association.
This total was up 28.8% from January and up 22.1% from the total of $134.34 million reported for February 2009.
With a year-to-date total of $291.27 million, 2010 is up 22.3% compared with 2009.
"Manufacturing technology orders start off 2010 up 22% through February, showing that the market has turned and is slowly recovering from the worst single year downturn downturn in our industrys history," according to Douglas K. Woods, AMT president. "That increase could be twice as large if banks would ease credit restrictions. Our banks have a tenth of our GDP and nearly 24 times the required reserve in the Federal Depository when that money should be working to rebuild America."
Comsuption in the Northeast Region rose rose to $26.64 million, up 6.1% when compared with Januarys $25.11 million but down 3.1% when compared with February 2009.
February manufacturing technology consumption in the Southern Region totaled $19.00 million, down 33.2% when compared with the $28.42 million total for January and off 11.0% when compared with February a year ago. The $47.42 million year-to-date total was 32.1% more than the total for the same period in 2009.
With a total of $43.06 million, Midwest Region manufacturing technology consumption in February was 19.7% higher than Januarys $35.96 million and up 9.0% when compared with last February. The year-to-date total of $79.02 million was 16.2% above the comparable figure in 2009.
Totaling $53.20 million, Central Region manufacturing technology consumption in February rose 102.1% above Januarys $26.32 million and was 76.6% higher than the total for February 2009. At $79.52 million, 2010 year-to-date was up 42.8% when compared with last year at the same time.
At $22.07 million, February manufacturing technology consumption in the Western Region was up 91.9% from Januarys $11.50 million and up 39.1% when compared with February a year ago. The $33.57 million year-to-date total was 7.3% more than the 2009 total at the same time.