In their release, AMT and USCTI quoted Oxford Economics director of U.S. Industry Mark Killion, who noted, “Orders for cutting tools have benefitted in recent months from a faster rate of business investment spending, due to recent tax cuts and renewed strength in key markets such as metals, mining and machinery.”
The CTMR is based on the figures reported by participating companies, and represent the majority of the U.S. market for cutting tools.
“February cutting tool sales show that business continues to grow, gaining 3.5% over January, a very solid start to 2018,” stated Philip Kurtz, president of USCTI. “Year-over-year sales posted a 7.4 percent gain and it certainly looks like the trend will continue.
“News of tariffs and pressure on raw-material prices could have an effect, but with strong market momentum it is certainly not a given that much will change,” Kurtz forecast. “March may or may not bring winds of change, but it will for sure bring spring.”
