Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Guidance and Visibility -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (87149)	5/11/2003 11:30:35 PM
From: 2MAR$	Respond to of 208838

US machine tool demand in March down from year ago Sunday May 11, 5:59 pm ET WASHINGTON, May 11 (Reuters) - U.S. machine tool demand fell in March from the same month a year ago but rose from February, two industry groups said on Sunday in a joint report. The American Machine Tool Distributors' Association and the Association for Manufacturing Technology said U.S. March machine tool demand fell 13.6 percent to $154.19 million from $178.48 million in March 2002. Enter Zip Code But March demand was up 40.9 percent from $109.47 million in February. For the first three months of 2003, machine tool demand slid 25.5 percent to $394.92 million from $530.42 million in the same 2002 period. February demand was revised downward from $133.78 million reported a month ago. "The five-year-long slide in new investment in modern production equipment continues as first quarter orders are down another 26 percent from 2002 levels," AMT President Albert Moore said in a statement. "The proposed tax bills in both houses of the U.S. Congress call for expanded expensing. Without this jump start the outlook for manufacturing remains bleak," he said. In its employment data issued last week, the Labor Department reported a 95,000 decline in U.S. April factory jobs. April marked a 33rd straight month of factory job losses, according to the National Association of Manufacturers (News - Websites). Next week the Federal Reserve will release U.S. April industrial production and capacity use. Machine tools are used to shape metal for such products as car engines, refrigerators and television sets. Demand for these tools can provide a leading indicator of the pace of manufacturing. The machine tools report is generally based on a survey of about 200 manufacturers, distributors and importers of machine tools that represent 76 percent of the machine tool market.