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May U.S. machine tool consumption totaled $224.30 million, according to the American Machine Tool Distributors’ Association and The Association For Manufacturing Technology. This total was up 9.9 percent from April and up 54.2 percent from the total of $145.42 million reported for May 2003.
With a year-to-date total of $1.041 billion, 2004 is up 46.1 percent compared to the same period in 2003.
“The manufacturing sector’s confidence in the direction of our national economy continues to grow,’’ said Ralph J. Nappi, president of the American Machine Tool Distributors’ Association. “May machine tool consumption builds upon a six-month trend of strong capital investments made by U.S. manufacturers. All indications point to continued investment for the rest of the year despite the machine tool industry’s recent challenges of product supply.’’