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.
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.Read More