Posted June 17, 2019

U.S. cutting tool consumption up 1.3 percent In April

April 2019 U.S. cutting tool consumption totaled $206.3 million, up 1.3 percent when compared with the $203.7 million reported for April 2018.

According to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology, the total was down 1.9 percent from March's $210.4 million. With a year-to-date total of $837.4 million, 2019 is up 6.7 percent when compared with 2018.

“April’s report continues to reflect a very robust market. However, the growth rate appears to be slowing. This is in line with what other industries are reporting. The effect of reduced Boeing 737 production rates and unsettled trade agreements are causing some of the market headwinds. If those issues are resolved in the next couple of months, 2019 could end as another record year,” said Phil Kurtz, president of USCTI.

According to Mark Killion, director of U.S. Industries at Oxford Economics, "New orders fell back in April, although remaining above year-ago levels, in line with slowing business investment and weakness in the motor vehicles sector."