Cutting tool consumption down in November
November U.S. cutting tool consumption totaled $153.7 million, down 13% from October and down 11.3% from November 2014.
According to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology, the total was also down 4.1% when compared year-to-date in 2014.
“Caution is the word for the start of 2016,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “The continuation of negative performance as the figures show plus the global tensions of China’s economy and the rising value of the dollar dampen the industry’s thoughts of improvement”.
As China’s economic growth slows, industries continue to be affected by the disruption causing a downturn in production, consumption and investments. In regards to the oil and gas industry, Tanya Bodell, executive director at Energyzt said that “The combination of low economic growth worldwide, but especially in China, combined with continued oil production has created a glut in oil supply that could continue to depress investment for at least the next year.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
