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July U.S. machine tool consumption totaled $250.11 million, down 4.1% from June but up 22.4% from the total of $204.37 million reported for July 2004, according to the American Machine Tool Distributors' Association and the Association for Manufacturing Technology. With a year-to-date total of $1,713.22 million, 2005 was up 14.8% compared with 2004.
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 year-to-date total sales still holding at 15% ahead of 2004, we see continued strong capital equipment spending," said Ralph J. Nappi, AMTDA president. "Expectations for capital equipment investment will continue, although at a more moderate pace as we move further into the second half of 2005."
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 breakdowns of the United States.
Northeast Region machine tool consumption in July stood at $26.76 million, 26.4% less than June's $36.36 million, and 15.0% less than the total for last July. At $240.97 million, the 2005 year-to-date total was up 9.3% compared with 2004 at the same time.
At $45.22 million, July Southern Region machine tool consumption was up 38.1% compared with June's $32.74 million and 21.9% higher than the total for July 2004. The year-to-date total of $287.49 million was 26.5% higher than the comparable figure for 2004.
July machine tool consumption in the Midwestern Region totaled $85.92 million, 7.8% less than June's $93.15 million, but 17.3% higher than the total for July 2004. With a year-to-date total of $605.78 million, machine tool consumption was 0.5% higher than at the same time a year ago.
Totaling $59.07 million, Central Region machine tool consumption in July was up 2.7% from June's $57.51 million and up 54.5% when compared with July a year ago. The year-to-date total of $350.70 million was 34.0% higher than the comparable figure for 2004.
July machine tool consumption in the Western Region totaled $33.14 million, down 19.1% from June's $40.95 million but 36.2% higher than the total for July a year ago. Compared with 2004 at the same time, the year-to-date total of $228.26 million was up 27.0%.