Cutting Tool Consumption Down Slightly in July

July U.S. cutting tool consumption totaled $159.5 million, according to the Cleveland, Ohio-based U.S. Cutting Tool Institute (USCTI) and the Association for Manufacturing Technology (AMT).

 

Total consumption was up 3.2% from June’s total but down 0.2% from July 2012. Year-to-date shipments are $1.17 billion, which is down 7.2% from the same period in 2012. 

 

The numbers are based on the totals actually reported by the companies participating in the Cutting Tool Market Report (CTMR) program. The totals represent about 80% 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,” says Brad Lawton, chairman of AMT’s cutting tool product group. “Key customer industries such as motor vehicles are poised for a strong autumn.”

 

The CMTR 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, according to the trade associations. 

 

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.