Demand for the machine tools that shape metal for products, such as car engines and refrigerators, rose in June from a year ago, two groups said in a joint report on Sunday.
U.S. June machine tool demand rose 2 percent to $360.43 million from $353.40 million a year earlier in June 2007, the American Machine Tool Distributors' Association (AMTDA) and the Association for Manufacturing Technology (AMT) said in a joint report.
But June demand was virtually unchanged from an upwardly revised $360.30 million estimate for May. May demand was initially estimated at $341.21 million.
In the first six months of 2008, demand for machine tools, which gives a sense of the pace of manufacturing, stood at $2.318 billion, up 15.3 percent from $2.011 billion in the same 2007 period.
"I think everyone is excited that the underpinning for productivity in our economic growth -- manufacturing technology equipment -- continues to grow at double-digit rates through the second quarter," AMT President John Byrd said in a statement.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment