Machine tool usage nears new record
By Staff -- Industrial Distribution, 4/1/1998
Rockville, MD.--Capping five straight years of growth, U.S. machine tool consumption closed out 1997 with a 24 percent gain over 1996. According to the United States Machine Tool Consumption report, the year-end total for machine tool consumption was $8.6 billion, and marked the first five-year consecutive growth spurt since 1966. The figures leave the industry poised for a strong 1998, which would set a new post-war record for continuous growth.The USMTC is jointly compiled by The Assn. for Manufacturing Technology and the American Machine Tool Distributors' Assn.
"Annual growth in machine tool orders of 24 percent was stronger than expected,'' says AMT president Don F. Carlson, noting that December machine tool consumption stood at an estimated $787 million, up 15.1 percent compared to a November estimate of $684 million, and up 32.6 percent compared to the estimated $594 million total for December of 1996.
Compared to 1996 figures, the Western region of the country experienced the highest increase (45 percent) in machine tool consumption. The South had the second-highest increase, with a 37 percent gain. The Central region was third, with a 33 percent increase, followed by the Northeast (30 percent). The Midwest had the lowest increase, with figures up 11 percent.
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