U.S. Cutting Tool Consumption Up 7.3% in June
October 1, 2014
June U.S. cutting tool consumption totaled $181 million, according to the U.S. Cutting Tool Institute and AMT - The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 7.3% from May's total and up 9.9% from June 2013.
These numbers and all data in this report are based on the totals actually reported by the companies participating in the CTMR program. The totals here represent about 80% of the U.S. market for cutting tools.
"June represents the strongest sales numbers in 2014, which projects optimism for the remainder of the year," said Tom Haag, President of the United States Cutting Tool Institute (USCTI). "This strong month has continued to gain ground versus 2013 sales for the fifth consecutive month and sets the stage for surpassing last year's totals."
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 Avenue
Cleveland, OH 44115-2851
216-241-7333
www.uscti.com
AMT
7901 Westpark Drive
McLean, VA 22102
703-893-2900
www.amtonline.org
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