U.S. cutting tool consumption totaled $171.09 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 2.3% from August’s $175.21 million and down 0.1% when compared with the total of $171.34 million reported for September 2015. With a year-to-date total of $1.524 billion, 2016 is down 7.5% when compared with 2015.

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.

“ With the slight improvement in the year over year numbers, it could be that market anxiety is improving and the Cutting Tool Industry can push towards focused improvements in productivity to better serve the global markets,” says Brad Lawton, Chairman of AMT’s Cutting Tool Product Group.

Steve Kline, Jr., Director of Market Intelligence at Gardner Business Media, adds to the positive outlook of the market saying “My two favorite leading indicators for cutting tool orders – the Gardner Business Index and durable goods new orders – have moved in a positive direction for at least the last six months. That is the typical lead of these two metrics compared with cutting tool orders. So, while cutting tool orders remained weak in September, I expect the momentum in cutting tool orders to improve for the remainder of 2016 and into 2017. “

The Cutting Tool Market Report 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 Cutting Tool Market Report 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.

March U.S. cutting tool consumption totaled $184.08 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 6.2% from February’s $173.38 million and down 7.9% when compared with the total of $199.89 million reported for March 2015. With a year-to-date total of $516.12 million, 2016 was down 8.5% when compared with 2015.

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 the majority of the U.S. market for cutting tools.

“The cutting tool industry seems to be on its current plateau, which shows slow sales volume improvements for the last four months. Improvements in the domestic economy and international markets are necessary to establish growth in our industry,” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group.

Improvements may be on the horizon as leading indicators and business indexes have progressed in the past few months. “Cutting tool shipments in March were the highest in nine months. However, shipments remained relatively weak as they continued to contract compared with one year ago,” adds Steve Kline, Director of Market Intelligence at Gardner Business Media.“The good news is that some of the earliest leading indicators for the metalworking industry, such as interest rates, exchange rates, and housing permits, have been moving in a positive direction for a number of months. Also, our own business index has shown some improvement in the metalworking industry since November.”

The Cutting Tool Market Report 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 Cutting Tool Market Report 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.

December U.S. cutting tool consumption totaled $156.48 million according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the the Cutting Tool Market Report (CTMR) collaboration, was up 1.4% from November’s $154.27 million and down 15.4% when compared with the total of $185.07 million reported for December 2014. With a year-to-date total of $2,135.07 million, 2015 was down 5.0% when compared with 2014.

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 the majority of the U.S. market for cutting tools.

“The December’14 to December ‘15 decrease of 15.4% is most reflective of the current environment in the Cutting Tool industry,” says Steve Stokey, President of USCTI. “We started 2015 strong with a significant decline during the second half of the year. The drop in oil prices, which softened the market, along with the strengthening dollar caused a dramatic decrease in demand in the last half of 2015.”

Overall, manufacturing in general has had some challenges. According to William A. Strauss, Senior Economist and Economic Advisor to the Federal Reserve Bank of Chicago, “The strengthening dollar has been a very strong headwind facing U.S. manufacturers.  The real value of the trade-weighted dollar has increased nearly 20% in the past year and a half. This has caused U.S. goods to be 20% more expensive on average to foreign consumers, and vice versa, imports are now 20% less expensive to U.S. consumers.  This has led to a substantial increase in the trade deficit over the same time period.”

The Cutting Tool Market Report 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 Cutting Tool Market Report 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.

September U.S. cutting tool consumption totaled $170.8 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 1.3% from August’s total, down 11.7% from September 2014 and down 1.9% when compared year-to-date in 2014.

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 the majority of the U.S. market for cutting tools.

“The month-to-month performance shows little change and certainly no significant recovery from the effects of the strong dollar and low oil prices, therefore the current industry conditions will continue,” says Brad Lawton, chairman of AMT’s Cutting Tool Product Group. This September was expected to be down from 2014’s numbers as IMTS bloomed into shipments in 2014.

The Cutting Tool Market Report 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 Cutting Tool Market Report 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.

August U.S. cutting tool consumption totaled $168.8 million, according to the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 5% from July’s total and down 2.0% when compared year-to-date in 2014.

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 the majority of the U.S. market for cutting tools.

“It appears as though cutting tool industry success this year is directly proportional to the amount of business tied to Oil & Gas/Mining. Those that are heavily invested in this market are feeling the most pain.  Additionally, the Agricultural Vehicle market has slowed below forecasts.   While Automotive and Aerospace markets remain consistent, the cutting tool industry needs a recovery in Oil & Gas to return to broad growth.  It will be a battle to surpass 2014 results in the 4th quarter,” said Tom Haag, President of USCTI.

The Cutting Tool Market Report 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 Cutting Tool Market Report 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.