July Sees Dip in Cutting Tool Consumption

July Sees Dip in Cutting Tool Consumption

The Cutting Tool Market Report (CTMR) offers cutting tool consumption as an indicator changes in U.S. manufacturing activity based on production volumes, similar to indexes of durable goods manufacturing.

“While July sales numbers in 2014 were down by 1.1%, this isn't unusual for the months leading up to Chicago’s International Manufacturing Technology Show,” stated Brad Lawton, Chairman of AMT’s Cutting Tool Product Group.

The prospect of IMTS also was cited by AMT in its summary of machine tool orders, which have been slow through the first half of the current year, and now trail the year-ago pace. It’s important to note that machine tool orders represent manufacturers’ capital spending plans, while cutting tool sales more nearly reflect manufacturing activity.

Read more on the CTMR on American Machinist, a companion site of IndustryWeek and part of Penton’s Manufacturing and Supply Chain Group.

 

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