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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.
''America's investment in modern manufacturing equipment is at one of its lowest points in history,'' stated Albert W. Moore, AMT President. ''In previous times, the USDA was created to recognize agriculture's economic importance and later President Reagan created SEMATECH to lead the world in the semiconductor field. Now it's time for this Administration to seize the opportunity as well as the responsibility to recognize manufacturing's importance to our economy. This vital sector needs a permanent place in our nation's policy structure.''
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 indi-cator 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 May rose to $19.14 million, 24.2% higher than April's $15.42 million, but down 23.3% when compared to May 2002. At $88.65 million, year-to-date consumption was off 32.9% compared to 2002 at the same time.
May machine tool consumption in the Southern Region stood at $23.44 million, 10.9% below last month's $26.32 million and off 33.0% when compared to last May. Year-to-date consumption totaled $138.14 million, off 8.3% when compared to the same time a year ago.
At $63.74 million, May Midwestern Region machine tool consumption was up 5.9% compared to the $60.21 million tallied in April, but 37.4% below the total for May a year ago. With a year-to-date total of $288.46 million, 2003's total is off 22.9% when compared to the same time a year ago.
Central Region May machine tool consumption totaled $22.71 million, 15.8% less than April's $26.97 million and off 39.0% compared to the same month a year ago. At $114.40 million, year-to-date consumption was 25.6% less than in 2002 for the same period.
With a total of $11.74 million, May machine tool consumption in the Western Region was down 9.6% compared to April's $12.99 million, and off 47.0% compared to last May. A year-to-date total of $68.30 million puts 2003 through May 39.6% behind 2002 at the same time.