Machine Tool Unit Sales at Highest Level Since Oct. ‘08
According to USMTC, machine tool sales in June were 65.8% (units) and 100.3% (real dollars) more than in June 2009. The growth of machine tool sales continues to accelerate since it started in December 2009. Based on my projection (the dotted line in the chart below) machine tool unit sales are on pace to grow close to 30% in 2010 compared to 2009. If sales continue at there current pace, then there is a chance that the growth in 2010 could be closer to 35% or even 40%. In the short term, industrial production and the Metalworking Business Index are pointing to stronger growth in machine tool sales. However, there are signs that economy is starting to slow down again and that the inventory replenishment that has been a driver of the recent upturn in manufacturing is over. For more information on machine tool sales go here and click one of the industries.