October cutting tools consumption down
October U.S. cutting tool consumption totaled $176 million, down 5.8 percent from October 2012.
According to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology, the total for the month was up 13.1 percent from September. Year-to-date shipments are $1.68 billion, which is down 6.6 percent from the same period in 2012.
“While cutting tool sales enjoyed their best month since April, the trend is still behind for 2013 compared to 2012,” said Tom Haag, president of USCTI. “The important indicators show the automobile and aerospace industries are forecast for stable and steady growth in 2014, so we are optimistic.”
The Cutting Tool Market Report (CTMR) 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.
INDUSTRIAL SUPPLY MAGAZINE
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