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October U.S. cutting tool consumption was $176 million, according to the U.S. Cutting Tool Institute and The Association for Manufacturing Technology. This total, as reported by companies in the Cutting Tool Market Report collaboration, was up 13.1 percent from September but down 5.8 percent from October 2012. Year-to-date shipments were $1.7 billion, down 6.6 percent from the same period in 2012.
These numbers and all data in this report are based on the totals reported by companies in the CMTR program. Totals represent about 80 percent of the U.S. market for cutting tools.
“While cutting tool sales enjoyed their best month since April, the trend is still behind for 2013 compared to 2012,” said Tom Haag, president of USCTI. “The important indicators show the automobile and aerospace industries are forecast for stable and steady growth in 2014, so we are optimistic.”
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.