July machine tool consumption 8% above 2002

July U.S. machine tool consumption totaled $157.06 million, according to AMTDA, the American Machine Tool Distributors' Association, and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the USMTC program, was down 33.7% from June but up 8.2% from the total of $145.09 million reported for July 2002. With a year-to- date total of $1,102.71 million, 2003 is down 15.5% compared to the same period in 2002.

These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.

"Despite a decline from the year's highest posting in June, the July machine tool consumption level exceeded July 2002 by 8 percent, marking the second consecutive month of year-on-year increases," stated Ralph J. Nappi, AMTDA President. "This activity is consistent with encouraging reports on durable goods orders, consumer confidence and growing activity in the manufacturing sectors that signal continued U.S. recovery."

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 $19.03 million, July machine tool consumption in the Northeast Region was off 30.0% from June's $27.18 million, and off 20.7% when compared to July a year ago. Year-to-date consumption totaled $135.17 million, down 26.6% compared to 2002 at the same time.

Southern Region

Southern Region machine tool consumption stood at $25.51 million in July, down 69.4% from June's $83.39 million, but 12.3% higher than the total for July 2002. At $248.64 million, year-to-date consumption was 8.6% ahead of the comparable figure for 2002.

Midwestern Region

July machine tool consumption in the Midwestern Region totaled $70.78 million, 13.8% less than June's $82.13 million but 53.9% higher than the total for last July. With a year-to-date total of $438.50 million, 2003 is 13.4% behind 2002 at the same time.

Central Region

Totaling $25.74 million, July machine tool consumption in the Central Region was off 3.3% compared to June's $26.62 million and off 31.0% when compared to July a year ago. The year-to-date total of $174.20 million was off 25.0% when compared to the same period in 2002.

Western Region

Western Region machine tool consumption in July stood at $16.01 million, 9.1% less than June's $17.61 million, but 6.2% higher than the total for July 2002. At $106.20 million, year-to-date 2003 was down 30.8% from the comparable figure for 2002.