U.S. Cutting Tool Consumption up 7.8% in March
May 23, 2014
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March U.S. cutting tool consumption was $171 million, according to the U.S. Cutting Tool Institute and AMT – The Association For Manufacturing Technology. March was up 7.8% from February 2014 and down 2.5% from March 2013.

“The first quarter of 2014 closed strong for cutting tools, which was in line with some other key industry indicators,” said Brad Lawton, chairman of AMT’s Cutting Tool Product Group. “Robust machine tool orders and a moderate increase in the industrial production index for manufacturing in March are good signs for future cutting tool sales.”

The report is a monthly statement on U.S. manufacturers’ consumption of the primary consumable in the manufacturing process—the cutting tool. Because it is a true measure of actual production levels, the organizations see analysis of cutting tool consumption as a leading indicator of both upturns and downturns in U.S. manufacturing activity.

Data in the report is based on the totals actually reported by companies in the Cutting Tool Market Report (CTMR) program, and the totals represent about 80% of the U.S. market for cutting tools.

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