Cutting tool consumption remains steady in 2019
Cutting tool consumption is up 7% through the first months of 2019 compared to the prior year, but that strength may be tempered by a bumpy market up ahead.
U.S. cutting tool consumption totaled $206.3 million in April, according to the U.S. Cutting Tool Institute (USCTI) and The Association For Manufacturing Technology (AMT). This total was down 1.9% from March’s $210.4 million. However, it was up 1.3% when compared with the $203.7 million reported for April 2018.
2019, with a YTD total of $837.4 million, is up 6.7% 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 market, while strong, may be facing potential headwinds for the rest of 2019.
“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,” said Phil Kurtz, president of USCTI in a press release.
Mark Killion, director of U.S. Industries at Oxford Economics, added, “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.”
Chris Vavra, production editor, CFE Media, email@example.com.