Kennametal
Kennametal

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

Kennametal First Choice Program

First Choice Keeps You Running Easy to select, easy to order, easy to apply, exceptional performance – that’s First Choice! The most versatile high-performing products from Kennametal, covering 80% of the applications you machine on a daily basis. You can count on us to keep your operations running!

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
CGTech VERICUT
Lantek Sheet Metal Solutions
The Manufacturers Success Connection
RK International
RK International Machine Tools
The Reshoring Initiative
Rainford Precision
Global Automotive Lightweight Materials Europe
Mitsuiseiki.com
XYZ 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