October U.S. manufacturing technology consumption totaled $273.85 million, according to(AMT) The Association For Manufacturing Technology and AMTDA, (the American Machine Tool Distributors' Association). This total was down 43.4% from September and down 32.3% from the total of $404.36 million reported for October 2007. With a year-to-date total of $3,802.41 million, 2008 is up 8.2% compared with 2007.
"October orders for manufacturing technology declined sharply from September, although year-to-date figures are still up over 2007," said Robert K. Simpson, AMT President. "While orders typically fall off in the October following IMTS, the larger than normal rate of decline is attributed to our customers' 'wait and see' attitude given the deteriorating economic conditions. It's my hope that Congress heeds the warning and works with manufacturers to establish assistance programs that will revitalize industrial America."
By regions, manufacturing technology consumption in the Northeast Region in October totaled $39.72 million, down 47.7% when compared with September's $75.91 million and 40.9% less than the total for October a year ago. In the Southern Region consumption in October totaled $28.34 million, 64.4% less than the $79.53 million total for September and down 29.8% when compared with last October. At $92.79 million, October manufacturing technology consumption in the Midwest Region was 36.8% below the September total of $146.72 million and 46.4% less than in October 2007. The Central stood at $77.95 million in October, down 41.5% when compared with Septembers $133.24 million, and down 11.1% when compared with October 2007. And the Western Region totaled $35.05 million, 27.2% less than Septembers $48.17 million, and down 2.9% when compared with the total for October a year ago.
