U.S. Cutting Tool Consumption Down 4.6 percent in April
MCLEAN, VA — April U.S. cutting tool consumption totaled $183.5 million, according to the U.S. Cutting Tool Institute and the Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 7.9 percent from March’s total and down 4.6 percent from April 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 the majority of the U.S. market for cutting tools.
“Clearly, the slowdown in the manufacturing sector has caused a decline in April,” said Tom Haag president of USCTI. “The good news is that year-to-date performance is still above 2014 and the indicators are that it will remain as such throughout 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. 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.
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