U.S. Cutting Tool Consumption Up 5.2 Percent In May

DMG MORI
U.S. Cutting Tool Consumption Up 5.2 Percent In May

AMT

Alphacam Programs UK’s Only Pro Evolution 5-Axis Twin Head Machine for ercol | Alphacam

After taking their first steps in 5-axis machining, a high-end, top quality furniture manufacturer quickly realised it was their best way forward, and also invested in a machine with two 5-axis heads, which is the first one of its kind in the UK.

U.S. Cutting Tool Consumption Up 5.2 Percent In May

May 2019 U.S. cutting tool consumption totaled $213.4 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 collaboration, was up 2.9 percent from April's $207.5 million and down .8 percent when compared with the $215.1 million reported for May 2018. With a year-to-date total of $1.1 billion, 2019 is up 5.2 percent when compared with 2018.

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 Market is now showing indications of the promised overall slowdown in the economy. The YTD/YTD numbers are no longer showing the double digit growth of 2018. Summer domestic slowdowns, international trade issues and global declining economies are confirming a changing Cutting Tool Market,” said Brad Lawton, Chairman of AMT’s Cutting Tool Product Group.

According to Steve Kline Jr., Chief Data Officer at Gardner Business Media, “May’s cutting tool orders were quite strong as only eight of the last 89 months had a higher total in real dollars. However, compared with one year ago, orders have contracted for three straight months. Based on the Gardner Business Index, cutting tool orders are likely to contract for the remainder of 2019.”

Enquire about this StoryReturn to News Overviews
XYZ Machine Tools
The Reshoring Initiative
Rainford Precision
Mitsuiseiki.com
Lantek Sheet Metal Solutions
CGTech VERICUT
The Manufacturers Success Connection
RK International
RK International Machine Tools

Copyright © 2019 Machines4sale Ltd
All Rights Reserved

Machines4sale Ltd website uses cookies to ensure you get the best experience, as detailed in our Privacy policyAgree