Posted May 10, 2019

U.S. cutting tool consumption grew in March

March U.S. cutting tool consumption totaled $210.4 million, up 2.3 percent from February’s $205.6 million and up 1.6 percent compared with the $207.1 million reported for March 2018.

The year-to-date total of $631.1 million is up 8.6 percent when compared with 2018, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.

“The Cutting Tool industry had a better first quarter in 2019 as compared to 2018. This positive performance would be helped if China and the USA could reach a new trade agreement that would provide stability to the markets,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group.

According to Costikyan Jarvis, president of Jarvis Cutting Tools, “Growth is good, even if it is not growing as fast as it used to. You can see that in March’s Cutting Tool usage data. The year-over-year growth is now 8.6 percent, which is still good, but not as good as the past number which showed over 12 percent growth.”