U.S. manufacturing technology consumption (USMTC) in May totaled $178.34 million, according to the American Machine Tool Distributors' Association (AMTDA) and The Association for Manufacturing Technology (AMT). This total is based on actual data from companies participating in the USMTC program, and it is down 22.9 percent from April but up 58.6 percent from the total of $112.42 million reported for May 2009. The year-to-date total of $966.63 million is up 52.9 percent 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," says 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."
USMTC is also reported on a regional basis for five geographic breakdowns: Northeast, Southern, Midwest, Central and Western. The full report can be viewed at the AMT's website.