Nov. machine tool consumption down 9.7% to $145.52 million
$145.52 million, according to AMT - The Association For Manufacturing Technology and AMTDA, the American Machine Tool Distributors' Association.
This total, as reported by companies participating in the United States Machine Tool Consumption program, was down 9.7% from October and off 4.3% from the total of $152.04 million reported for November 2001.
With a year-to-date total of $1.8 billion, 2002 is down 25.8% compared to the same period in 2001.
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 recovery of America's manufacturing base is anemic," said Albert W. Moore, AMT president. "It needs the additional stimulus that would be provided if Congress expands the president's very good economic growth and jobs package to allow American manufacturers, regardless of size, to expense more of the cost of manufacturing technology investments. These investments are critical to increasing productivity, enhancing competitiveness, and providing high-paying American manufacturing jobs."
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.
Experts say analysis of machine tool consumption is an economic indicator, since manufacturing industries invest in capital metal working equipment to increase capacity and improve productivity.