US cutting tool consumption down 11.7% in December

December U.S. cutting tool consumption totaled $138M, according to the U.S. Cutting Tool Institute and AMT.

February 19, 2014
Manufacturing Group
People/Facilities Machining/Metal Cutting

This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 11.7% from November’s total and down 3.9% from December 2012. Year-to-date shipments are $2.03 billion, which is down 3.9% from 2012. 

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. 

“Clearly the numbers are indicative of an economy that has been struggling throughout the year. December was further inhibited by the holidays in mid-week creating a very short month in terms of business days,” said Tom Haag, President of USCTI. “Forecasts for 2014 indicate growth for the industry, which we anticipate with confidence” 

The Cutting Tool Market Report (CTMR) is jointly compiled by AMT – The Association For Manufacturing Technology 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.

Source: U.S. Cutting Tool Institute and AMT