Machine Tools Pick Up Speed

ByJohn S. McClenahen Even before a predicted acceleration in capital spending during 2004's second half, U.S. machine tool consumption started to pick up speed, according to May data released this week by the Rockville, Md.-based American Machine Tool Distributors' Association and the McLean, Va.-based AMT -- The Association for Manufacturing Technology. Compared with April numbers, gross new orders of machine tools for U.S. consumption rose 9.9% in May to $224.3 million. New orders for metal cutting machine tools were $209.19 million, up 7.3% from April levels; orders for metal cutting machine tools were $15.1 million, up 64.9%.