U.S. Cutting Tool Orders Slow
Orders of $206.3 million were down 1.9 percent from the previous month.
Posted: June 17, 2019
April 2019 cutting tool consumption totaled $206.3 million according to the U.S. Cutting Tool Institute (USCTI; Cleveland, OH) and AMT – The Association For Manufacturing Technology (McLean, VA). This total, as reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration, was down 1.9 percent from March’s $210.4 million and up 1.3 percent when compared with the $203.7 million reported for April 2018. With a year-to-date total of $837.4 million, 2019 is up 6.7 percent when compared with 2018. The numbers and all data in this report are based on the totals reported by the companies participating in the CTMR program. These totals represent the majority of the U.S. market for cutting tools.
“April’s report continues to reflect a very robust market. However, the growth rate appears to be slowing. This is in line with what other industries are reporting. The effect of reduced Boeing 737 production rates and unsettled trade agreements are causing some of the market headwinds. If those issues are resolved in the next couple of months, 2019 could end as another record year,” stated PhilKurtz, the president of USCTI.
According to Mark Killion, the director of U.S. Industries at Oxford Economics, “New orders fell back in April, although remaining above year-ago levels, in line with slowing business investment and weakness in the motor vehicles sector.”
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