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U.S. Cutting Tool Consumption Down 7.9% in April

U.S. Cutting Tool Consumption Down 7.9% in April

Domestic manufacturers ordered $183.5 million worth of cutting tools, -4.6% year-over-year Third decline in four months of 2015 “…year-to-date performance is still above 2014”

Manufacturers’ consumption of cutting tools is similar to the manufacturers’ index of durable goods shipments, underscoring the CTMR’s relevance as record of manufacturing activity.

Domestic manufacturers ordered $183.5 million worth of cutting tools during April, 7.9% less than during March, and 4.6% less than during April 2014. It is the third time in the four months of Q1 2015 that the Cutting Tool Market Report (CTMR) has registered a decline in value.

The same up-and-down pattern from January through April has been demonstrated in the monthly U.S. Manufacturing Technology Report, which tracks new orders

for machine tools and related equipment. However, the USMTO is a forward-looking index of manufacturers’ investments; the CTMR is a monthly index of manufacturing activity at the current time.

The CTMR is compiled jointly by the U.S. Cutting Tool Institute (USCTI) and AMT – the Association for Manufacturing Technology, based on actual figures reported by participating companies. Their figures represent a majority of all cutting tool consumption by U.S. manufacturers.

The CTMR’s sponsors note that cutting tools are high-value, high-volume consumable products, and that their consumption parallels manufacturing activity in the wider economy.

“Clearly, the slowdown in the manufacturing sector has caused a decline in April,” observed Tom Haag president of USCTI. “The good news is that year-to-date performance is still above 2014 and the indicators are that it will remain as such throughout the year.”

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