January U.S. cutting tool consumption totaled $173.05 million according to the U.S. Cutting Tool Institute (USCTI) and AMT \u2013 The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 8.7% from December\u2019s $159.17 million and up 8.7% \u00a0when compared with the total of $159.22 million reported for January 2016. With a year-to-date total of $173.05 million, 2017 is up 8.7% when compared with 2016.<\/p>\n
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.<\/p>\n
Brad Lawton, Chairman of AMT\u2019s Cutting Tool Product Group states that \u201cThe early numbers for the first month of 2017 support the optimistic feelings that are growing in the domestic manufacturing market. \u00a0For the export of U.S. made cutting tools it is hoped that the strength of the U.S. Dollar and the Trump Administration trade policies will not destroy this potential business. \u00a0We must all wait and see the numbers at the end of the first quarter.\u201d<\/p>\n
\u201cThe latest data indicate cutting tool shipments are on a somewhat firmer footing in early 2017. The overall trend in durable goods orders and shipments points to firming activity after a lackluster 2016 performance. Likewise, most leading manufacturing indicators show improving domestic and global confidence levels,\u201d says Gregory Daco, Chief U.S. Economist at Oxford Economics. \u201cPresident Trump\u2019s pro-growth fiscal agenda should stimulate activity by year-end and into 2018, though his protectionist and anti-immigration agenda represent notable downside risks.\u201d<\/p>\n
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\u2019 consumption of the primary consumable in the manufacturing process \u2013 the cutting tool. \u00a0Analysis 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.<\/p>\n
Historical data for the Cutting Tool Market Report is available dating back to January 2012. \u00a0This 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.<\/p>\n","protected":false},"excerpt":{"rendered":"
January U.S. cutting tool consumption totaled $173.05 million according to the U.S. Cutting Tool Institute (USCTI) and AMT \u2013 The Association For Manufacturing Technology. This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was up 8.7% from December\u2019s $159.17 million and up 8.7% \u00a0when compared with the total of […]<\/p>\n","protected":false},"author":1,"featured_media":1224,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[119],"tags":[416],"class_list":["post-11268","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-today-in-mfg","tag-cutting-tool"],"_links":{"self":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts\/11268","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/comments?post=11268"}],"version-history":[{"count":0,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/posts\/11268\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/media\/1224"}],"wp:attachment":[{"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/media?parent=11268"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/categories?post=11268"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mfgtechupdate.com\/wp-json\/wp\/v2\/tags?post=11268"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}