March U.S. machine tool consumption totaled an estimated $616 million, according to AMTDA, the American Machine Tool Distributors’ Association and AMT - The Association For Manufacturing Technology. This was up 51% compared to the revised estimate of $408 million for February, and up 22% compared to the estimated $505 million total for March 1999. With the year-to-date total computed at $1.46 billion, 2000 is up 15% compared to the same period in 1999.
"I’m very pleased to see industry order activity back on track reflecting an increase over February’s posting and, more importantly, a 15% gain in the first quarter compared to the same period a year ago," stated Ralph J. Nappi, AMTDA President. "Realistically, I don’t anticipate capital equipment investment in 2000 will recapture the 28% shortfall experienced in 1999 con-sumption, but the trend currently reflects a confident manufacturing environment."
The monthly USMTC report, which provides consumption data of domestic and imported machine tools and related equipment, is computed from reports submitted by participating companies.
National machine tool consumption (in millions):
Machine tool consumption is also reported on a regional basis for five geographic breakouts within the United States. March order value and percent total by region as follows:
- Northeast Region
At $79.34 million, March Northeast Region machine tool consumption was up 48.9% compared to February’s $53.27 million, and up 58.8% compared to March 1999. Totaling $177.62 million, first quarter 2000 consumption was up 29.4% compared to the same period last year.
- Southern Region
March machine tool consumption in the Southern Region totaled $63.80 million, a 53.2% rise compared to the $41.65 million for February, but off slightly compared to March 1999. At $165.64 million, the first quarter total was up 10.4% compared to the same period a year ago.
- Midwestern Region
Midwestern Region machine tool consumption in March rose to $193.56 million, up 54.4% from February’s $125.36 million and up 25% compared to a year ago. First quarter 2000 machine tool consumption rose to $457.38 million, 7.6% higher than the first quarter of 1999.
- Central Region
Central Region machine tool consumption in March rose to $66.78 million, up 38.3% com-pared to February’s $48.27 million, but down 14.4% compared to March 1999. At $165.55 million the first quarter total was down 1.7% compared to last year at the same time.
- Western Region
At $64.48 million, March machine tool consumption in the Western Region was up 55.2% compared to February’s $41.55 million, and up 76.2% compared to March a year ago. Totaling $144.31 million, first quarter 2000 consumption was up 61.4% compared to the same period in 1999.
AMT/AMTDA will release next month's USMTC report in mid-June . Watch for our economic analysis.