U.S. Machine Tool Consumption Nearly Flat In February

ByJohn S. McClenahen Gross new orders of machine tools for U.S. consumption totaled $174.32 million in February, up 0.4% from January's $173.56 million, according to data jointly released by AMT -- The Association for Manufacturing technology, McLean, Va., and the Rockville, Md.-based American Machine Tool Distributors' Association. Gross new orders of $347.88 million for the first two months of this year, however, were 40.4% higher than the $247.77 million for January and February of 2003. In February 2004, gross new orders of metal cutting machine tools were $162.63 million, 1.2% higher than January's $160.68 million. New orders of metal forming machine tools in February were $11.69 million, 9.2% less than January's $12.88 million.