Machine-tool consumption continues to lag 2002 levels
This total, as reported by companies participating in the USMTC program, was up 40.9 percent from February, but down 13.6 percent from the total of $178.48 million reported for March 2002. With a year-to-date total of $394.92 million, 2003 is down 25.5 percent compared to the same period in 2002.
These numbers and all data in this report are based on the totals of actual data reported by companies participating in the USMTC program.
"The five-year-long slide in new investment in modern production equipment continues as first quarter orders are down another 26 percent from 2002 levels," said Albert W. Moore, AMT president.