MCLEAN, VA — November U.S. cutting tool consumption totaled $156.9 million, according to the U.S. Cutting Tool Institute and the Association For Manufacturing Technology.
That total was down 18.9 percent from October’s total and up 0.4 percent from November 2013.
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 percent of the U.S. market for cutting tools.
“Although this month registered the lowest volume of cutting tool shipments we’ve seen since 2013, this 18.9 percent decrease is in part due to the record breaking sales we had in October,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “Year-to-date shipments are on par with 2013. As manufacturers’ backlogs continue to grow, we expect shipments to rebound before the end of the year.”
The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products.
For more information, visit www.AMTonline.org.