June U.S. cutting tool consumption was $155 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 6.6 percent from May and down 12.8 percent from June 2012. The reported year-to-date total was $1 billion, down 8.2 percent from the same period in 2012.
These numbers and all data in this report are based on the totals actually reported by the companies participating in the CMTR program. The totals here represent about 80 percent of the U.S. market for cutting tools.
“We didn’t expect the first half softness of 2013 as recent activity was at some of the best levels since 1998,” Dave Povich, USCTI’s president, said. “What is promising is that the first half of the year outpaced the second half of 2012 and we believe manufacturing is on a modest upswing for the remainder of 2013.”
The Cutting Tool Market Report is jointly compiled by AMT and USCTI. 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.
This is the first release of the Cutting Tool Market Report; historical data is available for the program dating back to January 2012.
