Machine tool consumption falls behind 2002

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These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program. The recent developments in Iraq should begin to clear up the uncertainty that has existed for many months," said Ralph J. Nappi, AMTDA President. "U.S. manufacturers can now set their sights on the future and focus on productivity and process improvements to be more competitive in the world marketplace."

The United States Machine Tool Consumption (USMTC) report, jointly compiled by the two trade associations representing the production and distribution of manufacturing technology, provides regional and national U.S. consumption data of domestic and imported machine tools and related equipment. Analysis of machine tool consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.

U.S. machine tool consumption is also reported on a regional basis for five geographic break-downs of the United States.

Northeast Region
At $18.64 million, February Northeast Region machine tool consumption was up 35.8% from January's $13.72 million, but off 43.7% compared to February a year ago. Year-to-date consumption totaled $32.35 million, off 41.2% when compared to the same time a year ago.

Southern Region
February machine tool consumption in the Southern Region totaled $38.20 million, up 74.0% from January's $21.96 million and up 61.2% when compared to February 2002. Year-to-date machine tool consumption rose to $60.16 million, 38.8% ahead of the comparable figure for 2002.

Midwestern Region
Midwestern Region machine tool consumption in February stood at $47.79 million, off 25.9% from January's $64.50 million, and 19.4% less than the total for last February. At $112.29 million, year-to-date 2003 consumption was down 30.3% compared to a year ago.

Central Region
Machine tool consumption in February in the Central Region totaled $15.29 million, down 23.8% compared to January's $20.06 million and down 46.1% compared to February a year ago. Year to-date consumption was $35.35 million, off 33.7% compared to the same period in 2002.

Western Region
With a February total of $13.86 million, machine tool consumption in the Western Region was up 20.1% compared to January's $11.53 million, but off 39.1% compared to February 2002. At $25.39 million, year-to-date consumption was off 34.9% compared to 2002 at the same time