U.S. Cutting Tool Consumption Down 1.1% in July
July U.S. cutting tool consumption totaled $170 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 1.1% from June’s total but up 1.5% from July 2013.
These numbers and all data in this report are based on the totals actually reported by the companies participating in the CTMR program. The totals here represent about 80 percent of the U.S. market for cutting tools.
“While July sales numbers in 2014 were down by 1.1%, this isn’t unusual for the months leading up to Chicago’s International Manufacturing Technology Show,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group. “Cutting tool consumption continues to contribute to the industry’s stability. Having remained strong for the 6th consecutive month, these figures reassure our confidence in the current market conditions.”
The Cutting Tool Market Report (CTMR) is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.
Historical data for the Cutting Tool Market Report is available dating back to January 2012. This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.
