U.S. Cutting Tool Consumption down 3.8 Percent in September

September U.S. cutting tool consumption totaled $156 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 3.8 percent from August’s total and down 3.1 percent from September 2012.  Year-to-date shipments are $1.5 billion, which is down 6.7 percent from the same period in 2012.

These numbers and all data in this report are based on the totals actually reported by the companies participating in the CMTR program. The totals here represent about 80 percent of the U.S. market for cutting tools.

“Year-to-date cutting tool shipments remain down compared to 2012, in part thanks to sluggish order growth in sectors like fabricated metal products,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “Areas to watch into 2014 are power generation equipment and aircraft and parts, as both industries are forecast to grow.”

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.

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