The 2020 Mid-Year Economic Update_long

December U.S. Cutting Tool Consumption Down 11.7% from November

2014 forecast predicts growth for industry.

December U.S. cutting tool consumption was $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 collaboration, was down 11.7 percent from November and down 3.9 percent from December 2012. Year-to-date shipments are $2 billion, down 3.9 percent from the same period in 2012.

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," said Tom Haag, President of USCTI. "December was further inhibited by the holidays in mid-week creating a very short month in terms of business days. Forecasts for 2014 indicate growth for the industry, which we anticipate with confidence.”

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