Cutting tools are high-value consumable products used by manufacturers to perform not only cutting but turning, grinding, honing, and various other production processes. As such, consumption of cutting tools presents a quantifiable index to the current state of manufacturing activity, comparable to durable goods shipments.
The AMT – the Assn. for Manufacturing Technology and the U.S. Cutting Tool Institute release the monthly Cutting Tool Market Report. CTMR data is based on the totals reported by participating companies, whose results represent the majority of the U.S. market for cutting tools.
Through 11 months of results, U.S. manufacturers’ cutting tool consumption totaled $2.020 billion, +8.2% versus the January-to-November 2016 consumption figure.
"The year to date growth over 2017 continues to be above 8.0%, and movement on tax reform should continue to energize the economy," stated Brad Lawton, chairman of AMT’s Cutting Tool Product Group. "With that vision, the cutting-tool industry is ready to do our part in promoting the promising economic growth for our nation in 2018."
