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US Cutting Tool Demand Falls Again, Reflecting Manufacturing Weakness

July 18, 2016
U.S. manufacturers consumed $165.68 million worth of cutting tools during May, a decline of 4.6% from the March total and a 4.1% drop from the May 2015 result. Cutting tool consumption is an index to overall manufacturing activity.
The CTMR report on cutting-tool consumption is a useful index to overall manufacturing activity (comparable, as shown, to manufacturers’ shipments of durable goods) because tools must be replaced relatively frequently during manufacturing processes.

U.S. manufacturers consumed $165.68 million worth of cutting tools during May, a decline of 4.6% from the April total and a 4.1% drop from the May 2015 result. Cutting tool consumption is an index to overall manufacturing activity.

Cutting tool consumption is tracked by the U.S. Cutting Tool Institute (USCTI) and AMT – the Association for Manufacturing Technology in the monthly Cutting Tool Market Report (CTMR.) The report includes data from a majority of the cutting-tool manufacturers and distributors in domestic manufacturing. As cutting tools are a primary consumable product involved in the production process for multiple industrial sectors, the report provides an up-to-date index to U.S. manufacturers’ overall activity.

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