November machine tool consumption down 9.7%

November U.S. machine tool consumption totaled $145.52 million, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors' Association. This total, as reported by companies participating in the USMTC program, was down 9.7% from October and off 4.3% from the total of $152.04 million reported for November 2001. With a year-to-date total of $1,856.58 million, 2002 is down 25.8% compared to the same period in 2001.

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 recovery of America's manufacturing base is anemic," said Albert W. Moore, AMT President. "It needs the additional stimulus that would be provided if Congress expands the President's very good Economic Growth and Jobs Package to allow American manufacturers, regardless of size, to expense more of the cost of manufacturing technology investments. These investments are critical to increasing productivity, enhancing competitiveness, and providing high-paying American manufacturing jobs."

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

Northeast Region machine tool consumption in November stood at $17.55 million, off 34.8% from October's $26.92 million, and off 22.5% from the total for November a year ago. At $283.39 million, year-to-date 2002 was down 31.5% compared to 2001 at the same time.

Southern Region

Southern Region machine tool consumption in November rose to $36.90 million, up 48.0% when compared to October's $24.93 million, and up 67.4% compared to November 2001. Year-to date consumption totaled $320.78 million, off 8.2% from the comparable figure for 2001.

Midwestern Region

With a November total of $50.14 million, Midwestern Region machine tool consumption was off 13.4% compared to October's $57.91 million, and off 22.1% compared to November a year ago. Year-to-date consumption stood at $666.54 million, 30.7% less than in 2001 at the same time.

Central Region

November machine tool consumption in the Central Region totaled $26.69 million, down 32.4% from October's $39.47 million, and 2.5% lower than the total for November 2001. At $371.33 million, year-to-date 2002 was off 19.1% compared to the same time a year earlier.

Western Region

At $14.25 million, Western Region machine tool consumption in November was up 20.2% compared to October's $11.86 million, but down 8.8% when compared to last November. With year-to-date consumption totaling $214.55 million, 2002 was down 32.1% when compared to 2001 at the same time.