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September U.S. machine tool consumption totaled $389.20 million, up 89.8% from August and up 74.6% from the total of $222.86 million reported for September 2003, according to the American Machine Tool Distributors' Association and the Association For Manufacturing Technology. With a year-to-date total of $2,146.95 million, 2004 is up 42.2% compared with 2003. These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"Manufacturing in the U.S. continues to show signs of a strong comeback," said Ralph J. Nappi, AMTDA president. "Machine tool orders in September hit their highest level in four years with all regions of the country showing growth. The recent re-election of President Bush will further solidify the comfort of manufacturing with continued capital investments."
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 U.S.
At $55.03 million, September machine tool consumption in the Northeast was up 102.3% compared to August's $27.21 million and up 98.0% compared to last September. At $312.64 million, year-to-date machine tool consumption was 52.7% higher than in 2003.
September machine tool consumption in the Southern Region totaled $42.85 million, 27.5% higher than the $33.62 million tallied in August and 36.2% higher than the total for September a year ago. The year-to-date total of $314.77 million was off 1.0% compared to 2003 at the same time.
At $162.77 million, September machine tool consumption in the Midwestern Region was 156.5% higher than August's $63.47 million and 46.6% higher than the total for September 2003. With a year-to-date total of $853.66 million, 2004 is running 43.2% ahead of 2003 at the same time.
At $72.47 million, Central Region machine tool consumption was up 50.6% compared to August's $48.13 million and 115.4% higher than the September 2003 figure. With a year-to-date total of $386.50 million, consumption was 58.7% higher than the comparable figure for 2003.
Machine tool consumption in the Western Region in September rose to $56.07 million, a 72.1% rise over August's $32.59 million and 196.1% higher than the September 2003 total. The year-to-date total of $279.39 million was 89.6% higher than the 2003 total at the same time.