U.S. manufacturing technology consumption fell sharply in October, but overall growth remains strong, according to the Association for Manufacturing Technology (AMT) and the American Machine Tool Distributors’ Association (AMTDA).
The survey showed technology consumption within manufacturing was $368.62 million, down 9.9 percent from September, but up 41.4 percent from the $260.60 million in October 2005.
Year-to-date consumption is up 27.9 percent from 2005, totaling $3.19 billion.
“It has been two years since there has been two consecutive months with year-oveyear growth as strong as this September and October,” said John B. Byrd III, AMT President. “This indicates that manufacturing technology equipment order growth is accelerating, not slowing.”
By region, in the Northeast, October consumption was $48.98 million, down 15.4 percent from the $57.92 million in September, but up 39.5 percent over October 2005. Year-to-date consumption is $463.28 million, up 36.8 percent from 2005.
In the South, October consumption was $38.11 million, down 8.6 percent from September’s $41.70 million, but 3.6 percent higher than October 2005. The year-to-date total of $410.06 million is 2.6 percent higher than in 2005.
For the Midwest, October consumption was $142.29 million, up 12.2 percent from September’s $126.77 million and up 74.7 percent over October 2005. The year-to-date’s $1.0 billion is up 13.3 percent from 2005.
In the Central region, October consumption was $85.46 million, down 28.9 percent from September’s $120.17 million, but up 22.5 percent over October 2005. The $819.91 year-to-date total is 54.8 percent higher than in 2005.
And in the West, the $53.78 million October consumption was down 13.8 percent from September’s $62.37 million, but 43.6 percent higher than October 2005. Year-to-date consumption of $490.03 million is up 45.5 percent from 2005.