Since the November elections the cutting tool industry has been following the economic indicators and the growing optimism for an improving manufacturing market according to AMTs Brad Lawton

The Economy

Cutting Tool Consumption Dropped Again in November

Jan. 13, 2017

Domestic manufacturers consumed $168.69 million worth of cutting tools during November 2016, slightly less (-0.2%) than during October but 9.3% more than the November 2015 figure.

Robert Brooks

Domestic manufacturers consumed $168.69 million worth of cutting tools during November 2016, slightly less (-0.2%) than during October but 9.3% higher than the November 2015 figure. The results may suggest a more positive direction in U.S. manufacturing activity, inasmuch as cutting tools are a primary consumable for machine shops and other manufacturing operations, and the consumption of those products serves as an index to their production volumes, comparable to manufacturers’ durable goods shipments.

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AMT and USCTI identify cutting tools as the primary consumable in manufacturing, and thus an indicator of actual production levels, comparable to manufacturers’ durable goods shipments.

With the November results, the consumption of cutting tools has declined for five straight months. Through November, 2016 U.S. cutting tool consumption totaled $1.867 billion, down 5.7% compared with the January-November 2015 total.

The monthly Cutting Tool Market Report is maintained by AMT - the Assn. for Manufacturing Technology and the U.S. Cutting Tool Institute — to track current activity by machine shops and comparable manufacturing businesses. CTMR results represent actual dollar figures reported by participating companies, who represent the majority of the U.S. market for cutting tools.

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About the Author

Robert Brooks | Content Director

Robert Brooks has been a business-to-business reporter, writer, editor, and columnist for more than 20 years, specializing in the primary metal and basic manufacturing industries. His work has covered a wide range of topics, including process technology, resource development, material selection, product design, workforce development, and industrial market strategies, among others. Currently, he specializes in subjects related to metal component and product design, development, and manufacturing — including castings, forgings, machined parts, and fabrications.

Brooks is a graduate of Kenyon College (B.A. English, Political Science) and Emory University (M.A. English.)