TheWorldMachine-ToolOutputConsumptionSurvey.PDFVIP

The World Machine-Tool Output 2014 Consumption Survey How the major industrialized countries of the World world rank in terms of production, trade, and consumption consumption of machine tools. looks to recover in 2014 THE WORLD SURVEY AT A GLANCE After growing in 2010 and 2011, world machine tool consumption has contracted for two consecutive years. The rate of contraction in world consumption was slightly faster in 2013 (-8.5%) than it was in 2012 (-6.1%). However, based on several leading indicators, our forecast calls for world machine tool consumption to grow by 6.2% in 2014, reaching about $58,300 million. When calculating these world totals, we use the top 25 consuming or producing countries from that year. So, for example, total world consumption in 2002 is from a different set of countries than the total world consumption in 2010. Since the number of reporting countries changes from year to year, this provides a reasonable approximation because the top 25 consuming or producing countries account for roughly 95% of all consumption and production. World machine tool production fell for the second year in a row. In 2012, world production fell by 1.8%. The contraction in production was significantly slower than the contraction in consumption in 2012. It is very unusual for the rates of change in production and consumption to be substantially different from each other, but the significantly slower contraction in production resulted in an over production of machine tools in 2012, which caused machine tool prices to fall rather significantly in 2013. In 2013, supply and demand came into a better balance. Production fell at a slightly faster rate (-9.8%) than consumption last year