Cutting tool consumption down in September
September U.S. cutting tool consumption totaled $171.09 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 2.3% from August’s $175.21 million and down 0.1% when compared with the total of $171.34 million reported for September 2015. With a year-to-date total of $1.524 billion, 2016 is down 7.5% when compared with 2015.
“With the slight improvement in the year over year numbers, it could be that market anxiety is improving and the Cutting Tool Industry can push towards focused improvements in productivity to better serve the global markets,” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group.
Steve Kline Jr., director of market intelligence at Gardner Business Media, adds to the positive outlook of the market, saying, “My two favorite leading indicators for cutting tool orders – the Gardner Business Index and durable goods new orders – have moved in a positive direction for at least the last six months. That is the typical lead of these two metrics compared with cutting tool orders. So, while cutting tool orders remained weak in September, I expect the momentum in cutting tool orders to improve for the remainder of 2016 and into 2017."