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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.
"With machine tool consumption up 38.4% for the year, this reinforces the results seen at IMTS," declared John B. Byrd III, AMT President. "Exhibitors at IMTS didn't need numbers to tell them that a capital investment recovery is underway. They came away from the show with orders and with a renewed optimism about the growing manufacturing revival."
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.
August machine tool consumption in the Northeast Region totaled $31.39 million, up 5.0% when compared to July's $29.89 million and 20.6% ahead of August a year ago. At $259.45 million year-to-date machine tool consumption was up 48.0%.
Southern Region machine tool consumption in August stood at $32.62 million, 17.6% less than July's $39.59 million, but up 34.8% when compared to last August. The year-to-date total of $270.92 million is a 5.4% drop when compared to 2003 at the same time.
At $80.96 million, August machine tool consumption in the Midwestern Region was 1.6% higher than July's $79.72 million and 58.9% higher than the total for August 2003. With a year-to-date total of $710.59 million, 2004 is running 46.5% ahead of 2003 at the same time.
Totaling $44.06 million, Central Region machine tool consumption was 20.8% ahead of July's $36.49 million and up 67.3% from the August 2003 figure. Reaching $309.22 million, year-to-date 2004 machine tool consumption was 47.3% above the comparable figure for 2003.
Western Region machine tool consumption in August rose to $36.48 million, up 39.1% compared to the $26.22 million total for July, and 94.4% higher than the August 2003 total. At $228.40 million, year-to-date 2004 is 77.9% ahead of 2003 at the same time.