Machine tool consumption up slightly - Trends-Statistical Data Included

CHICAGO - U.S. machine tool consumption totaled an estimated $162.37 million in December, up 11.7 percent from a revised $145.4 million the previous month but 46 percent below $300.51 million in December 2000, according a joint report by the American Machine Tool Distributors' Association, Rockville, Md., and the Association for Manufacturing Technology, McLean, Va. "December machine tool orders were indicative of a yea that the machine tool industry is happy to close," said Ralph J. Nappi, AMTDA president. Machine too consumption totaled nearly $2.65 billion in 2001, down 34.1 percent from more than $4.02 billion the previous year. "Despite the decision by Congress to shelve the stimulus package, manufacturing indicators are not suggesting we are on the road to recovery yet," Nappi said. "The only good news about our economy is we are likely at the bottom."