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May U.S. machine tool consumption of $249.8 million was up 4.4% from April and up 23% from the total of $203.7 million reported for May 2004. With a year-to-date total of $1,203.9 million, 2005 was up 17.9% compared with 2004, according to the American Machine Tool Distributors' Association and the Association For Manufacturing Technology.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program. 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.
"Steady capital investment from U.S. manufacturing continues to drive machine tool orders with 2005 17.9% ahead of 2004 year-to-date. The five regions are all showing activity related to increased business conditions, but vary in degree based on manufacturing sectors within each geographic region," said Ralph J. Nappi, AMTDA president. "It is likely the second half of the year will yield a more deliberate and cautious approach to capital investments due to increasing energy costs, labor negotiations, and the inability of Congress to address manufacturing issues."
U.S. machine tool consumption is also reported on a regional basis for five geographic break-downs of the U.S.
At $30.91 million, Northeast Region machine tool consumption in May was down 27.7% from the $42.77 million tallied in April and down 2.3% when compared with May a year ago. The year-to-date total of $171.16 million was up 14.1% compared with 2004 at the same time.
Southern Region machine tool consumption stood at $38.63 million in May, 4.3% lower than April's $40.36 million, but 54.5% higher than the total for May a year ago. With a year-to-date total of $211.59 million, machine tool consumption was 47.9% higher than the comparable figure for 2004.
Machine tool consumption in the Midwestern Region in May stood at $92.40 million, a rise of 34.3% over April's $68.82 million and 4.2% higher than the total for May 2004. The 2005 year-to-date total of $425.00 million was up 1.3% compared with 2004 at the same time.
With a May total of $54.80 million, Central Region machine tool consumption was up 8.7% from April's $50.39 million and 50.6% higher than the total for May a year ago. Compared with 2004 at the same time, the year-to-date total of $240.79 million was up 30.2%.
May Western Region machine tool consumption totaled $33.05 million, down 10.3% compared with the $36.86 million total for April but up 50.9% when compared with May 2004. At $155.36 million, the year-to-date total was 26.1% higher than the comparable figure for 2004.