U.S. Cutting Tool YTD Consumption down 8.9% in February

McLean, Va, April 13, 2016 -- February U.S. cutting tool consumption totaled $173.38 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 the Cutting Tool Market Report (CTMR) collaboration, was up 9.3% from January’s $158.65 million and down 4.0% when compared with the total of $180.56 million reported for February 2015. 

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

 “With a slow start to 2016 it is nice to see a stronger February,” says Steve Stokey, President of USCTI. “2015 had a much stronger beginning and slower second half. It would appear that 2016 is shaping up as forecasted by most experts. We should see the months continue to improve and 2016 continuously gain on 2015 as the year progresses.” 

Adding to the optimistic outlook, Greg Daco, Head of US Macroeconomics at Oxford Economics says “Cutting tool shipments experienced an encouraging rebound in February despite soft durable goods orders and shipments. Looking forward, most leading manufacturing indicators point to modest growth with domestically oriented sectors supported by solid business conditions. Global headwinds will continue to restrain activity, but the drag should gradually dissipate.”

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

AMT - The Association For Manufacturing Technology Logo AMT – The Association For Manufacturing Technology represents and promotes U.S.-based manufacturing technology and its members—those who design, build, sell, and service the continuously evolving technology that lies at the heart of manufacturing. Founded in 1902 and based in Virginia, the association specializes in providing targeted business assistance, extensive global support, and business intelligence systems and analysis. AMT is the voice that communicates the importance of policies and programs that encourage research and innovation, and the development of educational initiatives to create tomorrow’s Smartforce. AMT owns and manages IMTS — The International Manufacturing Technology Show, which is the premier manufacturing technology event in North America.

The United States Cutting Tool Institute (USCTI) was formed in 1988 and resulted from a merger of the two national associations representing the cutting tool manufacturing industry. USCTI works to represent, promote, and expand the U.S. cutting tool industry and to promote the benefits of buying American-made cutting tools manufactured by its members. The Institute recently expanded its by-laws to include any North American manufacturer and/or remanufacturer of cutting tools, as well as post-fabrication tool surface treatment providers. Members, which number over 80, belong to seven product divisions: Carbide Tooling, Drill & Reamer, Milling Cutter, PCD & PCBN, Tap & Die, Tool Holder and All Other Tooling. A wide range of activities includes a comprehensive statistics program, human resources surveys and forums, development of product specifications and standards, and semi-annual meetings to share ideas and receive information on key industry trends.


Contact(s):

Patrick McGibbon
phone: 703-827-5255




Review Article Be the first to review this article
Featured Video
Jobs
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Director of Process Engineering. for Tekni-Plex at Toledo, Ohio
System Designer/Engineer for Bluewater at Southfield, Michigan
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
Director, Business Development for Kongsberg Geospatial at Ottawa, Canada
Director, Business Development for Kongsberg Geospatial at remote from home, Any State in the USA
Upcoming Events
Montréal Manufacturing Technology Show (MMTS) 2018 at Place Bonaventure Montréal Canada - May 14 - 16, 2018
ESPRIT World 2018 at Indianapolis Marriott Downtown 350 West Maryland Street Indianapolis IN - Jun 11 - 15, 2018
HxGN LIVE 2018 at The Venetian Las Vegas NV - Jun 12 - 15, 2018
IMTS2018 International Manufacturing Tech Show at McCormick Place Chicago IL - Sep 10 - 15, 2018



Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — 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 PolicyAdvertise