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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.
"June orders were up 3 percent from June 2002, the first growth in a monthly year-on-year comparison since November 2000," noted Albert W. Moore, AMT President. "A single instance does not constitute a trend but a trend must have a starting point. Thanks to the expensing provisions in President Bush's jobs and economic growth tax relief bill this year is looking more promising."
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.
June machine tool consumption in the Northeast Region rose to $32.38 million, up 68.4% compared to May's $19.23 million, and up 15.4% when compared to June a year ago. First half 2003 consumption totaled $121.40 million, off 24.2% compared to 2002 at the same time.
Totaling $79.78 million, June machine tool consumption in the Southern Region was 241.0% higher than May's $23.40 million, and up 43.5% from June 2002. Machine tool consumption for the first half of 2003 rose to $218.40 million, 5.9% higher than the comparable figure for 2002.
Midwestern Region machine tool consumption in June totaled $81.55 million, 37.0% more than May's $59.53 million but 5.8% less than the total for June a year ago. With a first half total of $367.05 million, 2003 is 20.3% behind first half 2002.
At $32.32 million, Central Region June machine tool consumption was up 10.4% compared to May's $29.27 million, but off 21.5% compared to last June. With a total of $153.91 million, 2003 consumption lags 2002 at the same time by 21.1%.
June machine tool consumption in the Western Region rose to $18.52 million, up 24.0% from May's $14.94 million, but down 27.1% from June a year ago. A first-half total of $92.10 million falls 33.5% short of the comparable figure a year ago.