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"The decline in July orders and the anticipated fall in August orders reflect the expected drop in an IMTS year," said Don F. Carlson, AMT president. "The summer months preceding the biennial International Manufacturing Technology Show, the largest manufacturing technology show in the Americas, typically slow as customers await the unveiling of new products and technologies. Anecdotal evidence suggests an upturn in sales at this month's IMTS in the face of the current market climate leading to a strong finish for 2002."
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.
July machine tool consumption in the Northeast Region rose to $26.28 million, up 9.2% compared to June's $24.06 million, but down 3.9% compared to July 2001. Year-to-date consumption totaled $186.45 million, down 37.8% from the comparable figure for 2001.
At $26.35 million, July Southern Region machine tool consumption was down 51.6% from June's $54.48 million, but up 2.6% from the July 2001 figure. Consumption year-to-date totaled $230.38 million, 1.8% less than 2001 at the same time.
Midwestern Region machine tool consumption in July stood at $36.89 million, 41.5% less than June's $63.07 million, and 51.4% less than July a year ago. Totaling $449.22 million, year-to-date consumption was off 25.4% from the equivalent figure for 2001.
Totaling $39.13 million, July machine tool consumption in the Central Region was up 1.8% compared to June's $38.45 million and up 37.2% when compared to last July. Year-to-date consumption stood at $237.16 million, off 26.3% compared to 2001 at the same time.
With a July total of $14.69 million, Western Region machine tool consumption was off 37.1% from June's $23.33 million, and off 38.6% compared to July 2001. The year-to-date total of $183.16 million was down 20.1% from the comparable figure a year ago.