December U.S. cutting tool consumption totaled $138 million, according to the U.S. Cutting Tool Institute and The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 11.7 percent from November’s total and down 3.9 percent from December 2012. Year-to-date shipments are $2.03 billion, which is down 3.9 percent from 2012.
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.
“Clearly the numbers are indicative of an economy that has been struggling throughout the year. December was further inhibited by the holidays in mid-week creating a very short month in terms of business days,” said Tom Haag, President of USCTI. “Forecasts for 2014 indicate growth for the industry, which we anticipate with confidence”
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.