US cutting tool consumption up 5.2%

The May 2019 U.S. cutting tool total, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology, was $213.4 million. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was up 2.9% from April's $207.5 million and down 0.8% when compared with the $215.1 million reported for May 2018. With a year-to-date total of $1.1 billion, 2019 is up 5.2% when compared with 2018.

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

“The Cutting Tool Market is now showing indications of the promised overall slowdown in the economy. The YTD/YTD numbers are no longer showing the double-digit growth of 2018. Summer domestic slowdowns, international trade issues and global declining economies are confirming a changing Cutting Tool Market,” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group.