These numbers and all data in this report are based on the totals actually reported by the companies participating in the CTMR program. The totals here represent about 80 percent of the U.S. market for cutting tools.
Although this month registered the lowest volume of cutting tool shipments weve seen since 2013, this 18.9% decrease is in part due to the record breaking sales we had in October, said Brad Lawton, chairman of AMTs Cutting Tool Product Group. Year-to-date shipments are on par with 2013. As manufacturers backlogs continue to grow, we expect shipments to rebound before the end of the year.
The Cutting Tool Market Report is jointly compiled by AMT and USCTI, two trade associations representing the development, production and distribution of cutting tool technology and products. It provides a monthly statement on U.S. manufacturers consumption of the primary consumable in the manufacturing process the cutting tool. Analysis of cutting tool consumption is a leading indicator of both upturns and downturns in U.S. manufacturing activity, as it is a true measure of actual production levels.
Historical data for the Cutting Tool Market Report is available dating back to January 2012. This collaboration of AMT and USCTI is the first step in the two associations working together to promote and support U.S.-based manufacturers of cutting tool technology.