U.S. cutting tool consumption totaled $201 million in September, according to the U.S. Cutting Tool Institute and Association for Manufacturing Technology (AMT). That figure was down 8.1% from August, but up 4.3% year-over-year. Year-to-date cutting tool consumption was $1.85 billion through September, up 8.1% vs. the first nine months of 2022.
“The third quarter and September data for 2023 indicates that manufacturing output is still strong based on cutting tool data,” said Jack Burley, chairman of AMT’s Cutting Tool Product Group, in a news release. “In some regions, however, consumption has flattened compared to 2022, while other regions have increased due to the primary mix of industries they support. Overall activity is reasonably good and should continue into the fourth quarter.”
Alan Richter, editor-at-large of Cutting Tool Engineering, added: “Although total U.S. cutting tool consumption was down 8.1% in September from the previous month, the 12-month moving average continued to rise to a level last seen in November 2019 as it continues to somewhat mimic the rising 12-month durable goods moving average. Hopefully, the war in Gaza, as well as the ongoing one in Ukraine and a possible U.S. government shutdown in mid-November or further down the road, will not adversely impact future cutting tool consumption.”