The U.S. Machine Tool Consumption report from American Machine Tool Distributors Association (AMTDA) and AMT — The Association for Manufacturing Technology, shows July U.S. machine tool consumption decreased 4.1 percent from June figures, but up 22.4 percent from the total reported for the same period in 2004. July tool consumption totaled $250.11 million.
Overall, 2005 investment is up 14.8 percent against 2004, with a year-to-date total of $1,713.22 million.
Even though spending for machine tools has been strong in 2005, both trade groups expect that investment to continue at a slower pace.
"Expectations for capital equipment investment will continue, although at a more moderate pace as we move further into the second half of 2005," says AMTDA President Ralph J. Nappi.
The regional breakdown for July 2005 and its comparison to June 2005 are:
- West - $33.14 million/-19.1 percent
- Midwest - $85.92 million/-7.8 percent
- Central - $59.07 million/+2.7 percent
- Northeast - $26.76 million/-26.4 percent
- South - $45.22 million/+38.1 percent