Manufacturing Technology Consumption Stumbles in July
October 21, 2008—
U.S manufacturing technology consumption dropped 21.5 percent from June to July according to the American Machine Tool Distributors' Association (AMTDA) and the Association for Manufacturing Technology (AMT). Totaling $303.44 million, manufacturing technology consumption is up 5.7 percent from the figure for July 2007, and the year-to-date total is approximately $2.66 billion, which is up 15.5 percent from the same figure in 2007.
"Despite the consecutive 1.3 percent increases in durable goods orders for June and July, manufacturing technology orders turned down sharply in July, with much of the downturn in fabricating and forming," says Peter Borden, AMTDA president. "However, 2008 remains stronger than both 2006 and 2007. The fall trade show season will provide a clearer indication of the industry's health following IMTS and Fabtech."
From a regional basis, the Northeast region's manufacturing technology consumption was down 11.8 percent from June to July, at $46.43 million. This value is 13.9 percent higher than the respective figure for July 2007, but the year-to-date total for 2008 is 1.8 percent less that it was in 2007.
Manufacturing technology consumption in July for the Southern region stood at $41.51 million, which is 41.0 percent less than it was in the previous month and 7.8 percent less than the total was in July 2007. However, the year-to-date total for the South is up 39.0 percent in comparison to 2007.
The Midwest region's manufacturing technology consumption was down 37.3 percent in comparison to June of this year and 14.4 percent less than it was in July 2007. The year-to-date total is 33.4 percent higher than it was at the same time in 2007.
At $100.17 million, July manufacturing technology consumption in the Central region was up 14.8 percent from June and 34.3 percent higher in comparison to July 2007. The year-to-date figure is 5.3 percent more than it was the previous year.
July manufacturing technology consumption for the Western region was down 27.1 percent with a total of 35.15 million. It was 6.5 percent higher than July 2007, and the year-to-date total is 2.7 percent less than that of 2007.