March machine tool consumption rises 84 percent

Industrial Distribution staff -- Industrial Distribution, 5/13/2008 7:03:00 AM

Manufacturers in the United States spent $544.62 million on machine tools in March, an 84.4 percent increase over February, according to the American Machine Tool Distributors’ Assn. and the Assn. for Manufacturing Technology.

It’s a 36.1 percent increase over March 2007; so far this year, manufacturers have spent $1.18 billion on machine tools, up 16.4 percent compared with 2007.

“The March consumption numbers, as well as the first quarter as a whole, clearly demonstrate that the investment incentive stimulus package, along with the weak dollar, are helping metalworking manufacturers counteract the weaknesses in the other sectors of the economy,” AMTDA president Peter Borden said. “We’re pleased that the surcharges on fuel and other items have not affected decision makers’ appetites for capital goods. It’s noteworthy that all areas of the country had substantial gains and this makes us cautiously optimistic for the balance of the year.”

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