Because tools must be replaced relatively frequently during manufacturing processes the CTMR data can be viewed as an index to overall manufacturing activity similar to trends in manufacturers shipments of durable goods

US Cutting Tool Consumption Fell 5.75% in April, Down 10.3% YTD

June 9, 2016
U.S. manufacturers consumed $173.64 million worth of cutting tools during April, a decline of 5.75% from the March total and a 15.0% drop from the April 2015 result. Cutting tool consumption is an index to overall manufacturing activity.

U.S. manufacturers consumed $173.64 million worth of cutting tools during April, a decline of 5.75% from the March total and a 15.0% drop from the April 2015 result. The data is drawn from the monthly Cutting Tool Market Report, which tracks consumption of cutting tools by manufacturers — including machine shops, contract manufacturers, and OEMs — as an indicator of overall manufacturing activity.

The April result halted a two-month trend of rising consumption total.

“The cutting tool sector took a step backwards in April after showing some modest improvements over the last few months,” observed Eli Lustgarten, senior vice president at Longbow Securities, a comment cited by the report’s source. “Demand levels continue to reflect a movement to stabilization in a generally weak environment for manufacturing. This reflects the sluggish global economic growth with minimal gains in U.S. industrial production, the strong dollar, weak agriculture, oil and gas activity, and the rising election uncertainty.”

The U.S. Cutting Tool Institute and AMT – the Association for Manufacturing Technology, issue the report jointly, basing it on actual totals reported by companies participating in the CTMR program.

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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.)

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