(Photo: Sandvik Coromant)

According to a report from the U.S. Cutting Tool Institute (USCTI), and the Association For Manufacturing Technology (AMT) cutting tool consumption in the U.S. totalled $155 million for the month of June.

This total was down 6.6 per cent from May 2013, and down 12.8 per cent from the June 2012 level of $195 million.

The data is based on numbers from companies participating in the CMTR program, which represents approximately 80 per cent of the U.S. market for cutting tools.

The reported year-to-date total through June 2013 was $1,014 million, down 8.2 per cent from shipments levels for the same period in 2012.

“We didn’t expect the first half softness of 2013, as recent activity was at some of the best levels since 1998.”  said Dave Povich, USCTI’s President.

“What is promising is that the first half of the year outpaced the second half of 2012 and we believe manufacturing is on a modest upswing for the remainder of 2013.”

RELATED: German machine tool sector lacks momentum: report

As cutting tools are a primary consumable in the manufacturing process, their consumption can be a helpful indicator of the general pattern of manufacturing activity, and production levels.

The AMT and USCTI are two trade associations that represent the development, production, and distribution of cutting tool technology and products.

This is the first release of the Cutting Tool Market Report.

The AMT represents and promotes U.S.-based manufacturing technology. They also own and manage the International Manufacturing Technology Show (IMTS), and publish the U.S. Manufacturing Technology Orders (USMTO) report.

The United States Cutting Tool Institute (USCTI) was formed in 1988 and resulted from a merger of the two national associations representing the cutting tool manufacturing industry.

www.amtonline.org

www.uscti.com