US Metalworking Continues Making the Cut
A recent joint release from the U.S. Cutting Tool Institute (USCTI) and the Association For Manufacturing Technology (AMT) reports cutting tool consumption for U.S. manufacturers was up 9.7 percent in October.
A recent joint release from the U.S. Cutting Tool Institute (USCTI) and the Association For Manufacturing Technology (AMT) reports cutting tool consumption for U.S. manufacturers was up 9.7 percent in October compared with a 3.3 percent increase in September. Strong cutting tool consumption bodes well for metalworkers as it indicates that shops are busy.
Cutting tool consumption is a leading indicator of both upturns and downturns in domestic manufacturing activity, as it is a true measure of actual production levels. Companies participating in the Cutting Tool Market Report represent about 80 percent of the U.S. market for cutting tools.
Going into 2015 with a strong fourth quarter gain in consumption seems to indicate that the manufacturing momentum of 2014 should continue into the New Year. Good news! Click here for a link to the report.
