May U.S. manufacturing technology consumption totaled $178.34 million, according to AMTDA, the American Machine Tool Distributors' Association and AMT - The Association For Manufacturing Technology.
The total was down 22.9% from April but up 58.6% from the total of $112.42 million reported for May 2009. With a year-to-date total of $966.63 million, 2010 is up 52.9% compared with 2009.
"While we would like to see first quarter growth rates continue, we are not surprised by the typical second quarter ebb and flow in capital spending," noted Peter Borden, AMTDA president "We have seen an additional month of substantial orders which helps to confirm that a sustainable recovery is taking place despite the buzz of those forecasting a W-shaped rebound. Industry forecasts for the year have been revised slightly upward by many sources and, if Congress passes the bonus depreciation allowance, this could accelerate growth even further."
On a regional basis, the Northeast Region consumption in May stood at $33.78 million, a drop of 7.2% when compared with the $36.38 million total for April but up 18.6% when compared with May 2009. With a year-to-date total of $159.16 million, 2010 was up 21.3% when compared with 2009 at the same time.
With a total of $28.88 million, Southern Region manufacturing technology conconsumption in May was 9.7% less than Aprils $31.99 million but 111.5% more than last Mays total. The year-to-date total of $154.24 million was 86.5% above the comparable figure for 2009.
Consumption in the Midwest Region totaled $43.99 million, down 26.5% when compared with the $59.87 million total for April but up 56.1% when compared with May a year ago. The $263.29 million 2010 year-to-date total was 45.0% higher than the total for the same period last year.
At $53.00 million, May consumption in the Central Region was down 28.4% from Aprils $74.06 million but up 152.3% when compared with last May. The $271.62 million year-to-date total was 82.7% more than the 2009 total at the same time.
With a total of $18.70 million, Western Region manufacturing technology consumption in May fell 35.4% from Aprils $28.93 million and was off 11.4% from the total for May 2009. At $118.32 million, 2010 year-to-date was 34.3% higher than the comparable figure a year ago.