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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.
"August orders and increased output among many of our customers appear to be signaling and end to the decline in the manufacturing technology investments," said John B. Byrd III, AMT President. "While a capital spending recovery has not yet begun, better times certainly seem to be on the horizon."
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 August rose to $23.22 million, 18.1% ahead of July's $19.66 million, and 36.6% ahead of the total for August 2002. At $158.53 million, year-to-date consumption was off 21.2% compared to 2002 at the same time.
August machine tool consumption in the Southern Region stood at $20.02 million, down 17.9% from July's $24.39 million, but up 6.8% when compared to August a year ago. The year-to-date total of $269.35 million was up 8.8% from the comparable figure a year ago.
Totaling $64.98 million, August machine tool consumption in the Midwestern Region was up 38.8% compared to July's $46.81 million, but down 9.6% from August 2002. With a year-to-date total of $478.34 million, 2003 was off 17.3% from 2002 at the same time.
At $26.71 million, August machine tool consumption in the Central Region was slightly higher than July's $25.93 million, but off 18.6% compared to August a year ago. The year-to-date total of $200.16 million was off 24.3% when compared to the same period in 2002.
Western Region machine tool consumption in August rose to $16.61 million, up 30.1% from July's $12.76 million and up 2.5% when compared to August a year ago. At $119.21 million, year-to-date 2003 was 29.7% lower than the comparable figure for 2002.