Foreign investment and a doubling of orders in aerospace and construction equipment offset anticipated slowdown
U.S. manufacturing technology consumption rose nearly 36% in June, a sign of growth in the manufacturing sector as companies invest in capital metalworking equipment to increase capacity and improve productivity.
Manufacturing technology consumption totaled $241.47 million in June, according to the latest United States Manufacturing Technology Consumption report, released this week by AMT-The Association for Manufacturing Technology and AMTDA, the American Machine Tool Distributor’s Assn. While up 35.8% compared to May, the total was more than 70% higher than June 2009. And with a year-to-date total of more than $1.2 billion, U.S. manufacturing technology consumption is up 56% over last year.
The numbers are higher than expected at this time of year, as order rates generally slow down in the months leading up to the International Manufacturing Technology Show (IMTS) in September, said AMT president Douglas K. Woods in announcing the monthly report. IMTS, the largest production technology show in the Americas, will be held Sept. 13-18 at McCormick Place in Chicago.
Woods said increased foreign direct investment and a doubling of orders in aerospace and construction equipment through the first half of 2010 offset the typical show slow down.
Regionally, manufacturing technology consumption rose the most in the Midwest, where it was up nearly 70% compared to May, followed by the Northeast (up 52% compared to May), the West (up 37.5% compared to May), the South (up 18.5% compared with May), and the Central Region (up just 7.1% compared to May).