Contact: Pat McGibbon, AMT, 703-827-5255
pmcgibbon@AMTonline.org
 
Susan Orenga, USCTI, 216-241-7333
sorenga@thomasamc.com
For Release: June 17, 2019

  

U.S. Cutting Tool Consumption Up 1.3 Percent in April

April 2019 U.S. cutting tool consumption totaled $206.3 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 1.9 percent from March's $210.4 million and up 1.3 percent when compared with the $203.7 million reported for April 2018. With a year-to-date total of $837.4 million, 2019 is up 6.7 percent when compared with 2018.
 
These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.
 
“April’s report continues to reflect a very robust market. However, the growth rate appears to be slowing. This is in line with what other industries are reporting. The effect of reduced Boeing 737 production rates and unsettled trade agreements are causing some of the market headwinds. If those issues are resolved in the next couple of months, 2019 could end as another record year,” said Phil Kurtz, President of USCTI.
Group.  

According to Mark Killion, Director of U.S. Industries at Oxford Economics, "New orders fell back in April, although remaining above year-ago levels, in line with slowing business investment and weakness in the motor vehicles sector."
 
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.

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. 

The graph below includes the 12-month moving average for the durable goods shipments and cutting tool orders. These values are calculated by taking the average of the most recent 12 months and plotting them over time. 

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CTMR data is also available at www.AMTonline.org.) ISSN# 10807756 


AMT-The Association For Manufacturing Technology represents U.S.-based builders and distributors of manufacturing technology – the advanced machinery, devices, and digital equipment that U.S. manufacturing relies on to be productive, innovative, and competitive. Located in McLean, VA, near the nation’s capital, AMT acts as the industry’s voice to speed the pace of innovation, increase global competitiveness and develop manufacturing’s advanced workforce of tomorrow. With extensive expertise in industry data and intelligence, as well as a full complement of international business operations, AMT offers its members an unparalleled level of support. AMT also produces IMTS – The International Manufacturing Technology Show, the premier manufacturing technology event in North America. The CTPG report is compiled by AMT and all data in the report is based on the totals of actual data reported by companies participating in the CTPG program.

The United States Cutting Tool Institute (USCTI) was formed in 1988 and resulted from a merger of two national associations representing the cutting tool manufacturing industry. The Institute works to represent, promote, and expand the U.S. cutting tool industry and to promote the benefits of buying American-made cutting tools manufactured by its members. Membership includes North American manufacturers and/or remanufacturers of cutting tools, as well as tool surface treatment providers. Members, which number over 70, belong to ten product divisions: Carbide Tooling, Drill & Reamer, Metal Cutting Saw Blades, Milling Cutter, Polycrystalline Diamond & Polycrystalline Cubic Born Nitride, Substrate Materials, Surface Coating, Tap & Die, Tool Holder and All Other Tooling. A wide range of activities include a comprehensive statistics program, human resources surveys, development of product specifications and standards, and semi-annual meetings to share ideas and receive information on key industry trends.

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USCTI – United States Cutting Tool Institute
1300 Sumner Avenue, Cleveland, OH 44115-2851
216-241-7333 / 216-241-0105 fax / www.USCTI.com

AMT – The Association For Manufacturing Technology
7901 Jones Branch Drive, Suite 900, McLean, VA 22102
703-893-2900  / 703-893-1151 fax  / www.AMTonline.org