U.S. Cutting Tool Consumption Down 7 percent in May
MCLEAN, VA — May U.S. cutting tool consumption totaled $172.8 million, according to the U.S. Cutting Tool Institute the Association For Manufacturing Technology.
This total, as reported by companies participating in the Cutting Tool Market Report collaboration, was down 6 percent from April’s total and down 7 percent from May 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.
“The decline in May cutting tool shipments data is not surprising given the changing market, seasonal shutdowns and economic environment faced by our industry,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “The monthly swings in shipments are consistent with expectations for a flat year relative to 2014.”
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.