Manufacturing technology consumption up 16.4% year-to-date

[M.D. Holloway]

The sky looks like it is soundly adhered...

Manufacturing technology consumption up 16.4% year-to-date

March U.S. manufacturing technology consumption totaled $544.62 million, according to AMTDA, the American Machine Tool Distributors’ Association, and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was up 84.4% from February, and up 36.1% from the total of $400.19 million reported for March 2007. With a year-to-date total of $1,183.75 million, 2008 is up 16.4% compared with 2007.

These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.

“The March consumption numbers, as well as the first quarter as a whole, clearly demonstrate that the investment incentive stimulus package along with the weak dollar are helping metalworking manufacturing to counteract the weaknesses in the other sectors of the economy,” said Peter Borden, AMTDA President. “We’re pleased that the surcharges on fuel and other items have not affected decision makers’ appetites for capital goods. It’s noteworthy that all areas of the country had substantial gains; and this makes us cautiously optimistic for the balance of the year.”

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. 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.

U.S. manufacturing technology consumption is also reported on a regional basis for five geographic breakdowns of the United States.

Northeast Region

Northeast Region manufacturing technology consumption in March rose to $71.34 million, 57.3% higher than February’s $45.37 million, and 19.1% higher than the March 2007 total. At $175.13 million year-to-date, 2008 is up 8.8% when compared with 2007 at the same time.

Southern Region

March manufacturing technology consumption in the Southern Region totaled $67.44 million, up 67.8% when compared with February’s $40.19 million, and 40.5% higher than the March total a year ago. Compared with 2007 at the same time, the year-to-date total of $166.90 million is up 37.7%.

Midwestern Region

With a March total of $223.29 million, Midwestern Region manufacturing technology consumption was up 201.9% from February’s $73.96 million, and up 85.5% when compared with March 2007. The $431.25 million year-to-date total is 53.3% higher than the 2007 total at the same time.

Central Region

Central Region manufacturing technology consumption rose to $116.83 million in March, 21.9% higher than February’s $95.88 million, and 8.5% higher than the tally in March 2007. The year-to-date total of $267.57 million is 6.9% less than the comparable figure in 2007.

Western Region

At $65.71 million, March manufacturing technology consumption in the Western Region was up 64.3% when compared with February’s $39.99 million, and 2.3% higher than the March 2007 total. Compared with 2007 at the same time, the year-to-date total of $142.91 million is down 14.0%.

[onewhippedpuppy]

But how can this be, we're in a recession? Recession. Recession! RECESSION!!!

[M.D. Holloway]

and yet I am reminded of a post from a few weeks ago...went sump'tin like dis...

THERE WAS A MAN who lived by the side of the road and he sold hot dogs. He was hard of hearing so he had no radio. He had trouble with his eyes so he read no newspapers. But he sold good hot dogs. He put signs up on the highway telling how good they were. He stood on the side of the road and cried, “Buy a hot dog, mister?” And people bought. He increased his meat and bun orders. He bought a bigger stove to take care of his trade. He finally got his son home from college to help him. But then something happened. His son said, “Father, haven’t you been listening to the radio? Haven’t you been reading the newspapers? There’s a big depression on. The European situation is terrible. The domestic situation is worse. Everything’s going to pot.”

Whereupon the father thought, “Well, my son’s been to college, he ought to know.” So the father cut down on his meat and bun orders, took down his advertising signs, and no longer bothered to stand out on the highway to sell his hot dogs. And his hot dog sales fell almost overnight. “You’re right son,” the father said to the boy. “We certainly are in the middle of a great depression.”