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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.
"We are clearly seeing early signs of recovery in manufacturing," said Ralph J. Nappi, AMTDA President. "Both broad and specific indicators suggest we are at the beginning of a long and painful climb from the bottom."
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.
September machine tool consumption in the Northeast Region stood at $24.96 million, down 9.2% from August's $27.50 million and down 39.2% compared to the total for September 2002. With a year-to-date total of $188.26 million, 2003 was 22.3% below the total in 2002 at the same time.
Rising to $28.32 million, September machine tool consumption in the Southern Region was up 24.7% compared to August's $22.71 million and up 1.6% compared to September a year ago. At $300.05 million, the year-to-date total was 8.9% ahead of the comparable figure a year ago.
September machine tool consumption in the Midwestern Region totaled $77.05 million, 68.0% higher than August's $45.85 million, and 28.3% ahead of the total for last September. With a year-to-date total of $534.70 million, 2003 was off 16.2% when compared to the same period in 2002.
At $28.64 million, September machine tool consumption in the Central Region was up 13.5% from the $25.24 million tallied in August, but off 38.5% when compared to September 2002. The year-to-date total of $227.88 million was off 26.7% when compared to the same period in 2002.
Western Region machine tool consumption in September stood at $16.80 million, down 13.8% when compared to August's $19.50 million and down 11.9% when compared to September a year ago. At $138.83 million, year-to-date 2003 was off 26.4% from the comparable figure for 2002.