U.S. cutting tool consumption up 14.5% in January

January U.S. cutting tool consumption totaled $158 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 14.5 percent from December’s total and down 10.6 percent from January 2013.

These numbers and all data in this report are based on the totals actually reported by the companies participating in the CTMR program. The totals here represent about 80 percent of the U.S. market for cutting tools.

 “As the CTMR enters the second calendar year of publication, the last four months have been marked by volatility,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group. “While it is difficult to draw a clear conclusion from just a few years of data, the pattern so far in this series suggests we might see smaller swings each month later in 2014.”

The Cutting Tool Market Report (CTMR) 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.

Historical data for the Cutting Tool Market Report is available dating back to January 2012.  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.