Cutting tool consumption rises
December U.S. cutting tool consumption totaled $168.2 million, up 7.2% from November and 20.3% higher than December 2013.
The results were reported by companies participating in the Cutting Tool Market Report (CTMR) collaboration between the U.S. Cutting Tool Institute (USCTI) and AMT – The Association For Manufacturing Technology.
“The 2014 calendar year closed with a flurry and the overall growth in the cutting tool industry reporting was 5.0% year over year,” said Tom Haag, president of USCTI. “This is an indication that our market is steady and strong despite some volatility in the monthly statistics this past calendar year. December was a reflection on the auto industry perpetuating its strong growth while aerospace markets continue to work on an enormous backlog. The December sales closed a year with a strong message that manufacturing is still driving growth in our economy.”
INDUSTRIAL SUPPLY MAGAZINE
The March/April issue of Industrial Supply magazine features an in-depth cover story about Joyce Lansdale and Vallen. Plus, we're featuring articles by contributing writers Dirk Beveridge, Frank Hurtte, and David Kahle, as well as interviews with numerous product and distribution industry experts.
