U.S. Cutting Tool Consumption Rose in April
U.S. cutting tool orders were up 2.1 percent from the previous month, reflecting a slow but positive growth that is forecast to continue in the second half of 2014.
The April 2014 U.S. cutting tool consumption totaled $175 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology (McLean, VA). This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 2.1 percent from March’s total and down 3.3 percent from April 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.
“The economic indicators continue to resonate in the metalworking industry exhibiting a return to growth. This is the second consecutive month over month increase with three months of the last four netting positive results over the fourth quarter of 2013,” said Tom Haag, the president of USCTI. “This slow but positive growth is forecast to continue in the second half of 2014.”
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.