U.S. Oct Machine Tool Demand Up But Down From Sept

U.S. machine tool demand stood at US368.62 million in October, representing an increase of 41.4% from US$260.60 million in the same period of last year, but down from US$408.95 million in September, according to a report prepared by the American Machine Tool Distributors' Association (AMTDA) and the Association for Manufacturing Technology (AMT). Growth of Demand for machine tools, which reflects how much industries are investing in production equipment, indicates that manufacturing technology equipment order growth is accelerating, pointed out by AMT President John Byrd. He also said it has been two years since there has been two consecutive months with year-on-year growth as strong as this September and October. The report, based on a survey of about 200 manufacturers, distributors and importers of machine tools, also finds out that U.S. October demand for machine tools rose 12.2% in the Midwest, but fell 28.9% in the Central region and dropped 15.4% in the Northeast. It also declined by 13.8% in the West and by 8.6% in the South.