ROCKVILLE, Md. - U.S. machine tool consumption in February totaled $242.1 million, up 13.5 percent from January, according to the Association for Manufacturing Technology and the American Machine Tool Distributors' Association.
Tool consumption for February was also up 37.9 percent compared to the same month in 2004. The year-to-date total is $455.48 million, up 28.3 percent compared with 2004.
"Historically, when February results outpace January, machine tool orders are in an acceleration mode," said John B. Byrd III, AMT president. "That is why I believe our industry, and manufacturing overall, will see continued growth in 2005."
The Northeast U.S. totaled $35.88 million in tool consumption, up 54.1 percent from the previous month. The year-to-date total for the region is $59.17 million, 7.5 percent higher than the comparable figure in 2004.
Southern tool consumption in February stood at $33.06 million, down 15 percent from January, but 78.2 percent higher than the total for February 2004. With a year-to-date total of $71.95 million, 2005 was running 60.8 percent ahead of 2004 at the same time.
February machine tool consumption in the Midwest totaled $96.62 million, 14.6 percent higher than January's $84.59 million and 47.8 percent higher than the total for last February. At $181.51 million, year-to-date 2005 machine tool consumption was up 29.4 percent compared with 2004 at the same time.
Central machine tool consumption stood at $47.52 million, up 11.2 percent from January's $42.74 million, and up 43.2 percent when compared with February a year ago. Year-to-date machine tool consumption totaled $90.26 million, 45.3 percent higher than the comparable figure in 2004.
With $28.73 million, the West's machine tool consumption in February was 20.3 percent higher than January's $23.87 million, and up 9.3 percent compared with a year ago. The year-to-date $52.6 million total was approximately level with the comparable figure for 2004.