Machine Tool Consumption Up 26% in August
MCLEAN, VA-August U.S. machine tool consumption totaled $286.86 million, according to The Association for Manufacturing Technology (AMT) and the American Machine Tool Distributors' Association (AMTDA). This total, as reported by companies participating in the United States Machine Tool Consumption (USMTC) program, was up 25.8% from July and up 38.1% from the total of $207.69 million reported for August 2004. With a year-to-date total of $1,974.60 million, 2005 was up 16.2% 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.
"Katrina aside, orders were relatively strong except for the South," says John B. Byrd III, AMT president. "It's clear that, in the storm's wake, we will likely experience an increase in manufacturing capacity needs driven by the reconstruction effort in the South."
The 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.