U.S. manufacturers consumed $189.1 million worth of cutting tools during December 2018, 9.7% less than during November but 8.1% more than during December 2017. Cutting-tool consumption (i.e., purchases) function as an indicator of manufacturing activity, as cutting tools are the "primary consumable" in manufacturing activities, according to the monthly Cutting Tool Market Report.
“At the end of a strong year, new orders for cutting tools slowed in the last two months of 2018, although remaining 8% above year ago levels in December,” according to Mark Killion, CFA, drector of US Industry at Oxford Economics. "Rising trade tensions and associated market turmoil, perhaps also the looming shutdown of federal government, likely gave key buyers reason to be more cautious, such as those in metals, transportation equipment and industrial machinery.”
The CTMR is compiled by the U.S. Cutting Tool Institute (USCTI) and AMT - the Assn. for Manufacturing Technology, from actual cutting-tool consumption data reported by participating companies that represent the majority of the U.S. market for cutting tools.
