June cutting tool consumption down 1% from last year
June U.S. cutting tool consumption totaled $188.7 million, up 9% from May’s total and down 1% from June 2014.
These numbers are based on the totals actually reported by the companies participating in the Cutting Tool Market Report program of the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. The totals represent the majority of the U.S. market for cutting tools.
“The momentum has definitely slowed in the second quarter of the year and has brought us to a relatively flat position compared to 2014 as we hit the halfway mark. Many economic indicators look solid as the auto industry and aerospace production have a positive outlook so we remain cautiously optimistic that we will see tepid growth through the remainder of the year,” said Tom Haag, president of USCTI. “The industry was certainly not forecasted to be this weak, but the oil & gas market as well as international economies have adversely affected our markets both in Europe and Asia.”
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.
