U.S. machine tool consumption for June was up nearly 24 percent over last year, according to the United States Machine Tool Consumption report, compiled jointly by the Assn. for Manufacturing Technology and the American Machine Tool Distributors Assn.

Machine tool consumption totaled $322.68 million, up 23.9 percent when compared with 2005, and officials were optimistic that the growth would continue.

“Counter to concerns that the 32-month expansion is ready to turn, the market is still 35 percent lower than its 1997 peak. There is still a lot of room to grow,” AMT's president John Byrd III, said in a statement.

The USMTC report provides regional and national U.S. consumption data on domestic and imported machine tools and related equipment.

According to the report, the Southern Region showed the highest rate of growth in the country, up 19.1 percent.

Other regions: Northeast Region, down 10.3 percent; Midwestern Region, level; Central Region, up 6.9 percent; and the Western Region, down 17.4 percent.