April machine tool consumption down 2.1% from March.

April U.S. machine tool consumption totaled $169.57 million, according to AMTDA (American Machine Tool Distributors' Association) and AMT (The Association For Manufacturing Technology). This total, as reported by companies participating in the USMTC program, was down 2.1% from March and down 1.3% from the total of $171.83 million reported for April 2002.

With a year-to date total of $584.66 million, 2003 is down 16.7% 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 passage of President Bush's stimulus package offers an unparalleled opportunity for manufacturers to invest in new equipment and technology," stated Ralph J. Nappi, AMTDA President. "Couple the new tax incentives with low interest rates sustained by the Fed and the weak U.S. dollar heightening export potential for manufactured goods, and the stage is set for businesses to justify capital acquisitions."

The United States Machine Tool Consumption (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. Analysis of machine tool consumption provides a reliable leading economic indicator as manufacturing industries invest in capital metalworking equipment to increase capacity and improve productivity.

U.S. machine tool consumption is also reported on a regional basis for five geographic breakdowns of the United States.

* Northeast Region

April machine tool consumption in the Northeast Region totaled $12.49 million, down 48.3% from March's $24.16 million and down 39.4% when compared to April 2002. At $66.58 million, year to-date consumption was off 37.9% compared to 2002 at the same time.

* Southern Region

Southern Region machine tool consumption stood at $25.62 million in April, 41.1% below last month's $43.51 million and off 15.9% when compared to April a year ago. Year-to-date consumption totaled $114.99 million, essentially level with the comparable figure for 2002.

* Midwestern Region

Midwestern Region machine tool consumption rose to $84.34 million in April, 51.5% above the $55.66 million tallied in March and 38.2% higher than the total for April a year ago. With a year-to date total of $247.64 million, 2003's total is off 9.0% when compared to the same time a year ago.

* Central Region

At $31.94 million, Central Region April machine tool consumption was up 3.3% compared to the $30.93 million total for March, but off 4.1% when compared to April a year ago. A year-to-date total of $96.71 million puts 2003 17.1% behind the previous year at the same time.

* Western Region

With a total of $15.18 million, April machine tool consumption in the Western Region was down 20.0% compared to March's $18.97 million, and off 42.6% compared to last April. At $58.75 million, year-to-date consumption was 35.3% less than in 2002 for the same period.