April Machine Tool Sales Show Accelerating Growth

According to USMTC, machine tool sales in April were 48% (units) and 123% (dollars) more than in April 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 (1,260 machines in April) were the second highest since December 2008 – only March 2010 was higher. Real dollar sales were the second highest since October 2008 – again, only March 2010 was higher. This marks four straight months of growth in the monthly year-over-year comparisons in unit sales. And, each month the amount of growth compared to last year has increased. Industrial production and the Metalworking Business Index are indicating continuing strength in machine tool sales.