U.S. Cutting Tool YTD Consumption down 9.9% in July

Sep 14, 2016 -- July U.S. cutting tool consumption totaled $146.95 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 16.2% from June’s $175.35 million and down 17.2%  when compared with the total of $177.51 million reported for July 2015. With a year-to-date total of $1,177.75 million, 2016 is down 9.9%  when compared with 2015.

These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.

“The Cutting Tool industry has been waiting for the opening bell of IMTS 2016, with anticipation of many new opportunities to break the current Industry trend and we’re excited that it’s finally here.  Will it happen or will the declining trend continue through the end of 2016?” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “We will have the answer before the start of next month.”  

Additionally, “Cutting tool demand took a sharp downturn in July even adjusted for seasonality. Demand has fallen for 15 months in a row with the latest weakness likely driven by the sluggish first half of 2016’s economic growth and the recent surprise contraction of the ISM Purchasing Managers Index (PMI). We are also hearing of more inventory reduction to align stock levels with current weak demand that is expected to remain lower for longer,” says Eli Lustgarten, Senior Vice President at Longbow Securities. “Expect more of the same for the remainder of 2016 with some moderation of the decline because of much easier comps starting in September.”

The Cutting Tool Market Report 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.

Historical data for the Cutting Tool Market Report is available dating back to January 2012.  This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.

(CTMR data is also available at www.AMTonline.org.)

ISSN# 10807756

 

Contacts:
Pat McGibbon
AMT
703-827-5255
Email Contact

Susan Orenga
USCTI
216-241-7333
Email Contact




Review Article Be the first to review this article
HP

Autodesk - DelCAM

Featured Video
Jobs
Principal Research Mechatronics Engineer for Verb Surgical at Mountain View, CA
CAD Systems Administrator for KLA-Tencor at Milpitas, CA
Senior Mechanical Engineer for Verb Surgical at Mountain View, CA
Industrial Designer Intern – Spring 2017 for Nvidia at Santa Clara, CA
Lead Geospatial Analyst for Alion at McLean, VA
Upcoming Events
SOLIDWORKS 2017 Launch Event – Walsall at Village Hotel Club, Walsall, WS2 8TJ Walsall United Kingdom - Mar 30, 2017
PI APPAREL Hong Kong 2017 at SHANGRI-LA KOWLOON 64 Mody Road Tsim Sha Tsui East Kowloon Hong Kong - Apr 5 - 6, 2017
SOLIDWORKS intro and hands on session – Slough at Baylis House, Slough, Berkshire, SL1 3PB Slough United Kingdom - Apr 7, 2017
Engineer 3D! Training + Technology Conference at Hyatt Regency Milwaukee 333 West Kilbourn Avenue Milwaukee WI - Apr 25 - 26, 2017
SolidCAM: Patented Wizard to optimal feeds & speeds
MasterCAM



Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise