• TOPICS
    • Design
    • Manufacturing
    • Inspection
    • Heat Treating
    • Lubrication
    • Materials
    • The Gear Industry
    • Gears by Type
  • MAGAZINE
    • Current Issue
    • Departments
    • Archives
    • Subscribe
    • Advertise
  • NEWSLETTER
    • Subscribe
  • VIDEO
    • Gear Technology TV
      • Ask the Expert Live
      • Revolutions
    • Industry Videos
  • BLOGS
  • BUYER'S GUIDE
  • NEWS and EVENTS
    • Product News
    • Industry News
    • Events
  • ADVERTISING
    • Brand Awareness
      • Print: Display Advertising
      • Online: Web Banners & Keyword Banners
      • Online: Native Advertising (Sponsored Content)
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Newsletter Sponsored Content (Native Advertising)
    • Response & Lead Generation
      • Online: Sponsored Content (Native Advertising)
      • E-mail: Newsletters
      • E-mail: Newsletter Sponsored Content (Native Advertising)
      • E-mail: Custom, White Papers & Webinars
      • Online: Buyers Guide
    • Print Advertising
      • Print: Display Advertising
      • Print: MPT Expo Showstoppers
      • Print: Buyers Guide
      • Print: Manufacturing sMart
      • Print: Specifications
      • MPT Expo Show Guide Advertising
    • Online Advertising
      • Online: Web Banners & Keyword Banners
      • Online: Native Advertising (Sponsored Content)
      • Online: Buyers Guide
      • Online: Specifications
    • E-mail Advertising
      • E-mail: E-Newsletters
      • E-mail: Newsletter Sponsored Content (Native Advertising)
      • E-mail: AGMA Industry News
      • E-mail: Custom, White Papers & Webinars
      • E-mail: Specifications
    • Special Promotions
      • Print: MPT Expo Showstoppers
      • Print: Buyers Guide
      • Print: Manufacturing sMart
      • MPT Expo Show Guide Advertising
  • CONTACT US
  • AGMA
    • Membership
    • Events
    • Education
    • Emerging Technology
    • AGMA Media
    • Standards
Subscribe
  • Sign In
  • Create Account
  • Sign Out
  • My Account
Home » U.S. Cutting Tool Consumption Totals $181.9 million for January

U.S. Cutting Tool Consumption Totals $181.9 million for January

March 11, 2015

January U.S. cutting tool consumption totaled $181.9 million, according to the U.S. Cutting Tool Institute (USCTI) and The Association for Manufacturing Technology (AMT). This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 1.7% from December’s total and up 1.9% from January 2014.

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% of the U.S. market for cutting tools.

“The industrial production index for manufacturing typically leads cutting tool production by one or two months,” said Pat McGibbon, vice president of AMT’s strategic analytics department. “January’s 1.7% decrease in shipments mirrors December’s decline in industrial production. The short lived fall reflected by January’s increase in industrial production leaves us optimistic to see positive cutting tool shipment growth in February and March.”

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 a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

The AMT also reported that January U.S. manufacturing technology orders totaled $341.17 million. This total, as reported by companies participating in the USMTO program, was down 32.9% from December’s $508.57 million and down 4.8% when compared with the total of $358.45 million reported for January 2014.

“To understand why we saw this drop in orders for January, December 2014 saw a sharp increase in sales,” said Douglas K. Woods, AMT president. “This was driven by many end-of-year orders that had been rushed through in order to qualify for tax rebate provisions that were enacted at the last minute for 2014. This is evidenced by the comparatively lower average order value seen in December vs. January, meaning that most end-of-year orders were for less expensive, in-stock machines that could be shipped quickly. The decline wasn’t unexpected, and we still foresee the manufacturing economy keeping on a stable path.”

Industry News
  • Related Articles

    AMT Reports October Cutting Tool Consumption Totals $196 million

    Cutting Tool Consumption Down 18.9% in November, According to U.S. Cutting Tool Institute

    AMT Reports January Cutting Tool Consumption Still Down

Free Gear Technology Subscriptions
Subscribe
Free Gear Technology Subscriptions
Subscribe
FEATURED VIDEO
  • Helios1
    Forest City Gear Taps Helios Gear for Custom Cutting Tools
January 18, 2023
RECOMMENDED
  • Precision Equals Performance at ZPE GripTec

    October 12, 2022
    gt0922_Page_28_Image_0003.jpg
  • State of the Powder Metal Industry

    October 12, 2022
    gt0922_Page_30_Image_0001.jpg
  • The Afterglow of Furnaces North America 2022

    October 12, 2022
    gt0922_Page_20_Image_0001.jpg
  • Reigniting the Educational Infrastructure

    December 5, 2022
    gt1122_Page_20_Image_0001.jpg
  • Profile: Continuing Education and Training with the AGMA

    December 5, 2022
    gt1122_Page_26_Image_0001.jpg
  • Reigniting the Educational Infrastructure

    December 5, 2022
    gt1122_Page_20_Image_0001.jpg
  • Profile: Continuing Education and Training with the AGMA

    December 5, 2022
    gt1122_Page_26_Image_0001.jpg
  • Precision Equals Performance at ZPE GripTec

    October 12, 2022
    gt0922_Page_28_Image_0003.jpg
  • Subscribe
  • Advertise
  • Contribute
  • AGMA
Powered byAGMA
Copyright © 2023 Gear Technology
  • Privacy Policy
  • Contact