November U.S. machine tool consumption totaled $275.20 million, according to AMTDA, the American Machine Tool Distributors’ Association, and AMT, the Association for Manufacturing Technology. This total, as reported by companies participating in the USMTC program (outlined below), was up 18.3 percent from October and up 40.4 percent from the total of $195.98 million reported for November 2003. With a year-to-date total of $2,669.77 million, 2004 was up 43.0 percent 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.
"Pent-up demand, tax incentives, and the need for increased capacity have caused U.S. manufacturers to continue their investments in new machine tools," says AMTDA President Ralph J. Nappi. "With year-to-date numbers running 43 percent ahead, and all five regions showing positive growth, there appears to be a clear signal of continued strength in the industry. 2004 will end up to be the strongest year for machine tool sales since 2000, with all indications for further growth in 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 break-downs of the United States.
Northeast Region: November machine tool consumption in the Northeast Region stood at $37.44 million, down 5.7 percent compared to October’s $39.69 million but up 59.6 percent compared to November 2003. At $400.80 million, year-to-date machine tool consumption was 60.2 percent higher than the comparable figure in 2003.
Southern Region: Totaling $52.24 million, Southern Region machine tool consumption in November was up 92.1 percent compared to October’s $27.19 million, and 193.0 percent higher than the total for November a year ago. The year-to-date total of $403.04 million was 12.4 percent higher than the comparable figure for 2003.
Midwestern Region: Midwestern Region machine tool consumption in November totaled $91.13 million, down 8.2 percent from October’s $99.25 million, but 17.1 percent higher than the November 2003 total. With a year-to-date total of $1,033.32 million, 2004 was running 39.1 percent ahead of 2003 at the same time.
Central Region: At $57.17 million, Central Region machine tool consumption in November was 51.3 percent higher than October’s $37.77 million, but down 3.3 percent when compared to November 2003. The year-to-date total of $488.25 million was 47.1 percent higher than the 2003 total at the same time.
Western Region: November machine tool consumption in the Western Region totaled $37.23 million, up 29.2 percent from October’s $28.82 million and up 109.6 percent compared to November a year ago. With a year-to-date total of $344.35 million, 2004 was up 87.5 percent when compared to 2003 at the same time.
For more information go to [www.amtda.org].