U.S. Cutting Tool YTD Consumption down 5.7% in November
The cutting tool consumption totalled $168.69 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
This total, as reported by companies participating in the Cutting Tool Market
Report (CTMR) collaboration, was down 0.2% from October’s $168.99 million and up 9.3% when compared with the total of $154.28 million reported for November 2015. With a year-to-date total of $1.867 billion, 2016 is down 5.7% when compared with 2015. These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.
Sales for the U.S. cutting tool industry should return to growth mode in the
first half of 2017 as higher oil prices reinvigorate
the energy sector and add to steadily improving manufacturing fundamentals. Oil price increases are expected to slow and growth in the important transportation equipmentsector will also taper off. As such, 2017 growth is expected to be temperate with stronger performance in 2018 as U.S. business investment picks up.
The Cutting Tool Market Report is jointly compiled by AMT and USCTI,
two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels. This collaboration of AMT and USCTI is the first step in the two associations
working together to promote and support U.S.-based manufacturers of cutting tool technology