U.S. Cutting Tool Consumption up 3.2 Percent in July
September 24, 2013
July U.S. cutting tool consumption totaled $159.5 million, according to the U.S. Cutting Tool Institute and the Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 3.2 percent from June’s total but down 0.2 percent from July 2012. Year-to-date shipments are $1.17 billion, which is down 7.2 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. “Most economic indicators for manufacturing for July were in line with cutting tools, showing small improvement for the month,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “Key customer industries such as motor vehicles are poised for a strong autumn.”
The 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 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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