May Machine Tool Sales Continue Strong Growth
According to USMTC, machine tool sales in May were 42% (units) and 68% (dollars) more than in May 2009. While the large percentage increases were due to very low sales last April, the good news is that we are seeing large percentage increases. Actual sales levels are better than the low points of the 2002-2003 recession but are still on the low end of the recovery that started in mid 2003 and 2004. Unit sales were above 1,000 units in May for the third straight month – the first time that has happened since December 2008. The 12-month rate of change curve is showing that machine tool sales should be growing year over year by September. Industrial production and the Metalworking Business Index are indicating continuing strength in machine tool sales. For more information on machine tool sales and the leading indicators go here.