Browse by Editorial Category
Browse by Edition Date

June 2018

Skip Navigation Links.
Expand Aerospace-Defense ManufacturingAerospace-Defense Manufacturing
Expand Applying TechnologyApplying Technology
Expand ControlsControls
Collapse Current NewsCurrent News
3Diligent Expands Digital Manufacturing Services
API Expands Services Division with New Texas Location
ARNO USA Rebrands H.B. Rouse American Made Line of Carbide Cutting Tools and Inserts
The 2018 ASSEMBLY Show October 23-25
AXYZ International Enters Waterjet Industry by Acquiring WARDJet
Industrial Duct Fabrication Supersizes Airflow Handling Capabilities
BIG KAISER Precision Tooling Celebrates 70-Year Anniversary
FFG Feeler and FFG DMC Select CNC Systems Inc. as USA Importer
Prototype and Low Volume Friction Welding Services
U.S. Cutting Tool Consumption Up 7.4 Percent in February
350 and#176;F Electrically Heated Cabinet Oven
HAIMER Basic Mill - Milling and Drilling in One
Tool Clamping Safe as Well as Efficient
Las Vegas Event Explores Data-Driven Ecosystems and the Smart Factory
INDEX Announces New Distributors
Industrial Innovations Named Authorized FANUC Robotics Integrator
Mahr Signs Cooperation Agreement with NanoFocus
Marposs Announces Acquisition of Aviation Tooling Supplier BPMA
Mastercam Partners with NASA HUNCH Program
TITANS of CNC Academy Kits Now Available
M.A. Metal Adds New CO2 Mitsubishi Laser Machine
Myers Spring Achieves IATF 169492016 Certification
Oberg Medical Expands Capabilities with X-L Acquisition
Novel Industry Partnership Brings Latest Metal Additive Manufacturing Tech to Ohio State
OMIC Randamp;D Expands Members with Addition of CGTech and Summit
Radiant Vision Systems Moves to Larger Facility
TsugamiRem Sales LLC Announces Partnership with MachineMetrics IIoT Platform
TsugamiRem Sales Celebrates 40 Years
Renishaw Equator 500 Enables Accurate Gauging of Larger Parts
Rex-Cut Abrasives Celebrates 90 Years in Manufacturing
Device Combines Ability to Add USB and Ethernet to Machines
Sigma Labs Signs Cooperative Agreement with the National Institute of Standards and Technology
10-Bar Internal Quench Vacuum Furnace
Techniks Industries Rebrands as Frontline Tooling Solutions
Tooling Tech Group Acquires Century Tool Group
Nations First Aerospace Engineering Apprenticeship Occupation
JTEKT Toyoda Adds ACI to Distribution Network
TRAK Machine ToolsJones Machinery to Host Cincinnati Open House
All-Electric Bending Machinery
UNITED GRINDING Group Celebrates Flow Assembly Line Launch
New Ceramic Grade for Machining Gray Cast Iron
Expand Finishing-Grinding-AbrasivesFinishing-Grinding-Abrasives
Expand People In The NewsPeople In The News
Expand Plant MaintenancePlant Maintenance
Expand Retrofit-Remanufacture-RepairRetrofit-Remanufacture-Repair

show all editions →

Click here to watch Tutorial Videos >

U.S. Cutting Tool Consumption Up 7.4 Percent in February



February U.S. cutting tool consumption totaled $190.12 million according to the U.S. Cutting Tool Institute (USCTI) and The Association For Manufacturing Technology (AMT). This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 3.5% from January's $183.61 million and up 8.7% when compared with the $174.98 million reported for February 2017. With a year-to-date total of $373.73 million, 2018 is up 7.4% when compared with 2017.

These numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. The totals here represent the majority of the U.S. market for cutting tools.

"February cutting tool sales show that business continues to grow," said Philip Kurtz, President of USCTI. "Year-over-year sales posted a 7.4% 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."

"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," said Mark Killion, Director of U.S. Industry at Oxford Economics.

The CTMR is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers' consumption of the primary consumable in the manufacturing process - the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.

Historical data for the CTMR is available dating back to January 2012. This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.

For more information contact:

USCTI

1300 Sumner Ave.

Cleveland, OH 44115-2851

216-241-7333

uscti@uscti.com

www.uscti.com

AMT

7901 Jones Branch Dr., Ste. 900

McLean, VA 22102-4206

703-893-2900 / 800-524-0475

amt@amtonline.org

www.amtonline.org

< back