2017cnc10-11

20 www.CNC-West.com CNC WEST October/November 2017 July U.S. cutting tool consumption totaled $170.95 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufac- turing Technology. This total, as reported by compa- nies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 8.4 percent from June’s $186.57 million and up 16.0 percent when compared with the total of $147.43 million reported for July 2016. With a year-to-date total of $1.266 billion, 2017 is up 7.1 percent when compared with 2016. 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. “The cutting tool industry certainly is on a pace to exceed 2016 totals,” says Brad Lawton, Chairman of AMT’s Cutting Tool Product Group. “With the con- tinuation of strong domestic economic growth, there is a potential recovery to the industry levels of 2015.” “Cutting tool demand continues its moderate re- covery though the monthly data remains volatile,” said Eli Lustgarten, Senior Vice President at Longbow Se- curities. “While July 2017 consumption showed a sea- sonal decline of 8.4 percent from June, results were 16 percent above the comparable month a year ago. Year to date consumption is up 7.1 percent and appears to be mostly demand driven with some modest restock- ing helped by the current moderate improvement in both on and off-highway markets, including a recov- U.S. Cutting Tool 2017 YTD Consumption up 7.1% in July ery in the mining and oil and gas sectors. We expect cutting tool demand to continue its current moderate recovery for the remainder of 2017, despite somewhat tougher monthly comparisons and the ongoing modest recovery in manufacturing industrial production, which isup 1.2 percent year to date.” The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations repre- senting the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers’ consump- tion of the primary consumable in the manufacturing process – the cutting tool. Analysis of cutting tool con- sumption 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 Cutting Tool Market Report is available dating back to January 2012. This collabo- ration 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. CTMR data is also available at www.AMTonline. org.