U.S. cutting tool consumption ticked up slightly in August, according to the U.S. Cutting Tool Market Report (CTMR) jointly released by the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
August cutting tool sales totaled $161.7 million, a 1.3 percent jump from July’s figure, but down 13.2 percent from the same period last year. Year-to-date figures were down 7.9 percent from the same period last year, to $1.33 billion.
“While U.S. manufacturing has demonstrated very modest growth through 2013, purchasing manager surveys point to a pickup heading towards 2014,” said Dave Povich, president of USCTI. “Cutting tool sales statistics suffered throughout the first half of the year due to some robust sales comps from 2012. These comps should turn more neutral to positive throughout the third and fourth calendar quarters.”
The CTMR is compiled using self-reported numbers from participating companies.