July U.S. machine tool consumption totaled $250.11 million, according to the American Machine Tool Distributors' Association and the Association for Manufacturing Technology.
While this total is down 4.1 percent from June, it is up 22.4 percent from the total of $204.37 million reported for July 2004. With a year-to-date $1.7 billion total, 2005 is up 14.8 percent compared with 2004.
"With year-to-date total sales still holding at 15 percent ahead of 2004, we see continued strong capital equipment spending," said Ralph J. Nappi, AMTDA president. "Expectations for capital equipment investments will continue, although at a more moderate pace as we move further into the second half of 2005."
Northeast machine tool consumption in July stood at $26.76 million, 26.4 percent less than June's $36.36 million and 15 percent less than the total for last July. At $240.97 million, the 2005 year-to-date total was up 9.3 percent compared with 2004 at the same time.
At $45.22 million, July Southern region machine tool consumption was up 38.1 percent compared with June's $32.74 million and 21.9 percent higher than the total for July 2004. The year-to-date total of $287.49 million was 26.5 percent higher than the comparable figure for 2004.
July machine tool consumption in the Midwest totaled $85.92 million, 7.8 percent less than June's $93.15 million, but 17.3 percent higher than the total for July 2004. With a year-to-date total of $605.78 million, machine tools consumption was 0.5 percent higher than at the same time a year ago.
Totaling $59.07 million, Central U.S. machine tool consumption in July was up 2.7 percent from June's $57.51 million and up 54.5 percent when compared with July a year ago. The year-to-date total of $350.70 million was 34 percent higher than the comparable figure for 2004.
July machine tool consumption in the Western region totaled $33.14 million, down 19.1 percent from June's $40.95 million but 36.2 percent 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 percent.