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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.
"Reports noting the current contraction of the manufacturing economy and excess production capacity for durable goods underscore the need for U.S. manufacturers to adapt to permanent systemic changes taking place," said Ralph J. Nappi, AMTDA president. "No doubt, business will improve, but not to prior levels. We must recognize the playing field has changed and that value added processes are increasingly more pivotal than the rigid product focus embraced in the past."
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 machine tool consumption in October rose to $48.13 million, up 17.9% when compared to September's $40.82 million, and up 45.7% compared to October 2001. Year-to-date consumption totaled $287.18 million, off 26.6% from the comparable figure for 2001.
With an October total of $25.68 million, Southern Region machine tool consumption was up 4.9% compared to September's $24.49 million, and up 22.3% compared to October a year ago. Year to-date consumption stood at $281.83 million, 14.0% less than in 2001 at the same time.
October machine tool consumption in the Midwestern Region totaled $61.79 million, up 13.3% from Septembers $54.52 million, but 25.8% lower than the total for October 2001. At $611.01 million, year-to-date 2002 was off 31.9% compared to the same time a year ago.
At $40.17 million, Central Region machine tool consumption in October was off 17.1% compared to September's $48.47 million, but up 51.5% when compared to last October. With year-to-date consumption standing at $345.95 million, 2002 was down 19.9% from the comparable figure a year ago.
Western Region machine tool consumption in October stood at $11.15 million, off 40.2% from September's $18.66 million, and off 53.9% from the total for October a year ago. At $198.37 million, year-to-date 2002 was down 34.0% compared to 2001 at the same time.