AMT, together with the U.S. Cutting Tool Institute (USCTI), compiles the CTMR from data supplied by participating member companies, who represent the majority of the U.S. market for cutting tools.
Cutting tools are high-value consumable products used by manufacturers to perform not only cutting but turning, grinding, honing, and various other production processes. As such, consumption of cutting tools presents a quantifiable index to the current state of manufacturing activity, comparable to durable goods shipments.
“Despite usual summer month volatility, year-to-date cutting tool shipments remains 7% above their 2016 levels. Durable goods shipments data confirm this positive backdrop with growth up 5% year-over-year in September,” according to Gregory Daco, chief U.S. Economist at Oxford Economics, quoted by the CTMR sources.
“Looking ahead, durable goods orders are rising at an 8.3% year-over-year clip in September, and leading manufacturing indicators point to elevated domestic and global confidence,” Daco continued. “Passage of a pro-growth tax cut package could further boost business activity and optimism, but the risk of protectionist measures still looms over the outlook.”
