Machine tool consumption jumps 26 percent in August

Industrial Distribution staff -- Industrial Distribution, 10/12/2007 5:15:00 AM

Manufacturers in the United States spent $347.25 million on machine tools in August, up 26.6 percent from July, according to a joint report from the Assn. For Manufacturing Technology and the American Machine Tool Distributors’ Assn.

That’s a 9.7 percent increase over the $316.44 million manufacturers spent on machine tools in August 2006, according to the associations’ United States Manufacturing Technology Consumption report.

“Machine tool orders have outpaced last year’s results due in part to the decline in the dollar’s strength, which is making manufacturing in the U.S. more competitive,” AMT president John Byrd III said. “However, it may be difficult to sustain the current growth rate through year end due to the very strong activity during and shortly following [the International Manufacturing Technology Show] 2006.”  

Manufacturers have spent $2.61 billion on machine tools so far this year, up 6.2 percent compared with the same period last year.

The report is compiled from data reported by the associations’ member companies.

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