Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT and the U.S. Cutting Tool Institute, totaled $191.8 million in July 2024. Orders decreased 7.8% from June 2024 but were up 1.7% from July 2023.
With more than 40 million pounds of machinery on over 1.2 million square feet, IMTS 2024 energized nearly 90,000 registrants, including 14,713 at the Smartforce Student Summit, with automation, digital manufacturing, and solutions for higher productivity.
In a highly anticipated move, Federal Reserve Chair Jerome Powell announced the target rate would be cut 50 basis points, bringing the federal funds rate to a 4.75% to 5% target range.
Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders report published by AMT, totaled $321.7 million in July 2024, showing declines of 19.3% from June 2024 and 7.8% compared to July 2023.
IMTS 2024 opens this week, boasting big numbers, as the weight of machinery exhibited tops 40 million pounds; conference registration doubles; and new technology attractions and events expand. IMTS runs Sept. 9-14 at Chicago's McCormick Place.
The Stages throughout IMTS feature executive conversations and presentations on AI transformation and empowerment, innovation and change management, digital transformation, growing the defense industrial base, manufacturing infrastructure, and much more.
Today, Fed Chair Jerome Powell gave the most concrete signal yet that interest rate cuts are on the horizon at his Jackson Hole press conference. For manufacturers closely watching the developments and anticipating IMTS 2024, the outlook is promising.
Whether you are exploring additive manufacturing or want to scale up advanced programs, the Additive Manufacturing Sector, accelerated by Formnext at IMTS 2024 can provide the experience, partnerships, technology, and services to further your success.
Shipments of cutting tools, measured by the Cutting Tool Market Report compiled in a collaboration between AMT and USCTI, were $208.1 million in June 2024, bringing the year-to-date total to $1.27 billion, up 2.6% compared to the first six months of 2023.
Orders of manufacturing technology, measured by the U.S. Manufacturing Technology Orders Report published by AMT – The Association For Manufacturing Technology, totaled $386.7 million in May 2024.