U.S. Cutting Tool Consumption Up 7.3 Percent in June
The strongest sales month so far in 2014 shines a bright outlook for the rest of the year ahead.
June U.S. cutting tool consumption totaled $181 million, according to the U.S. Cutting Tool Institute and The Association for Manufacturing Technology (AMT; McLean, VA). This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 7.3 percent from May’s total and up 9.9 percent from June 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.
“June represents the strongest sales numbers in 2014 which projects optimism for the remainder of the year,” said Tom Haag, the president of USCTI. “This strong month has continued to gain ground versus 2013 sales for the 5th consecutive month and sets the stage for surpassing last year’s totals.”
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.