ROCKVILLE, MD-August U.S. machine tool consumption totaled $150 million, according to the American Machine Tool Distributors Association and the Association for Manufacturing Technology (AMT). This total was up 16.6 percent from July, but down 3.2 percent from the total reported for August 2002.
"August orders and increased output among many of our customers appear to be signaling an end to the decline in the manufacturing technology investments," says John B. Byrd III, president of AMT. "While a capital spending recovery has not yet begun, better times certainly seem to be on the horizon."
In August, Northeast machine tool consumption rose to $23.22 million, 18.1 percent ahead of July's $19.66 million, and 36.6 percent ahead of the August 2002 total. At $158.53 million, year-to-date consumption was off 21.2 percent compared to 2002 at the same time.
August machine tool consumption in the South stood at $20.02 million, down 17.9 percent from July's $24.39 million, but up 6.8 percent compared to August 2002. The year-to-date total of $269.35 million was up 8.8 percent from 2002.
Totaling $64.98 million, August machine tool consumption in the Midwest was up 38.8 percent compared to July's $46.81 million. However, this is down 9.6 percent from August 2002. With a year-to-date total of $478.34 million, 2003 was off 17.3 percent from 2002.
At $26.71 million, August machine tool consumption in the Central United States was slightly higher than July's $25.93 million, but off 18.6 percent compared to August 2002. The year-to-date total of $200.16 million was off 24.3 percent when compared to 2002.
In August, machine tool consumption rose to $16.61 million, up 30.1 percent from July's $12.76 million. This is up 2.5 percent when compared to August 2002. At $119.21 million, year-to-date 2003 was 29.7 percent lower than 2002.